Ayodele Fayose’s alleged money laundering trial has been postponed by the Federal High Court in Lagos till January 31 and February 1.
Due to a scheduling error, the case’s trial was originally supposed to continue on October 26. A new trial date was to be decided by the parties and set by the court.
The Economic and Financial Crimes Commission (EFCC) is pursuing charges against Fayose for alleged money laundering and fraud involving N6.9 billion.
On October 22, 2018, he and his firm, Spotless Investment Ltd, were initially charged with 11 counts relating to fraud and money laundering offences before Justice Mojisola Olatotegun.
On October 24, 2018, after entering a not guilty plea to the allegations, he was released on bail in the amount of N50 million with the same amount of sureties.
The matter was subsequently withdrawn from Justice Olatoregun as a result of the EFCC’s plea, and the defendant was re-arrested before him on July 2, 2019.
He had also entered a not guilty plea to the allegations and was permitted to keep moving forward while the matter was delayed for trial.
Since then, the commission has presented its case to Justice Aneke, and it is continuing calling witnesses to testify.
The EFCC brought Mrs. Joanne Tolulope as its eleventh witness in December 2021. She described how Abiodun Agbele, a friend of Fayose, acquired assets worth millions of dollars.
The trial will now go on until January 31, 2023.
Remember that the prosecution called Sen. Musiliu Obanikoro, a former minister of state for defence, as a witness during the trial before Justice Olatoregun.
The EFCC said that on June 17, 2014, Fayose and a man named Abiodun Agbele allegedly obtained N1.2 billion.
They should have known the money was part of the proceeds from crime as it was claimed it was for his gubernatorial election campaign in Ekiti.
Sen. Musiliu Obanikoro, who was the then-minister of state for defence, is accused of giving Fayose a cash payment of $5 million (or around N1.8 billion) without first going through a financial institution.
He was also accused of keeping N300 million in his account and taking possession of the total amount of N622 million, which he had a reasonable expectation was part of the proceeds of crime.
It was claimed that Fayose got De Privateer Ltd. and Still Earth Ltd. to keep a combined total of N851 million, which they should have known was part of the profits of crime.
Additionally, it was claimed that the defendant utilised a total of around N1.6 billion to buy homes in Lagos and Abuja, homes that he should have known were part of the profits of crime.
Additionally, he was accused of using N200 million to buy an Abuja house in the name of his older sister Moji Oladeji.
The money laundering prohibition act of 2011’s sections 15(1), 15(2), 15(3), 16(2)(b), 16(d), and 18(c) were all broken, according to the anti-graft agency.
