Fayose, Former Governor Of Ekiti, Is Being Tried For Alleged Money Laundering.

The trial of former Ekiti State governor Ayodele Fayose resumed on Friday with the testimony of Mr Abubakar Madaki, an investigation officer with the Economic and Financial Crimes Commission (EFCC).

Fayose and his firm, Spotless Investment Limited, are facing charges of money laundering involving N6.9 billion.

Led by the prosecution counsel, Mr Rotimi Jacobs, the witness, Madaki provided his evidence before Justice Chukwujekwu Anoka.

Madaki, the 13th prosecution witness, stated that he was with the EFCC during the investigation of the case from 2014 to 2015, serving as the Head of Economic Governance.

He mentioned that an anonymous report was received by the Commission in mid-2015 regarding the procurement of firearms by the former National Security Adviser (NSA).

The report contained names of several companies and individuals who allegedly received funds from the NSA’s office without providing any services.

One of the companies mentioned was Silver McNamara, which allegedly obtained over N4 billion. Madaki explained that the companies and individuals involved were analyzed, and the investigation extended to banks, the Central Bank of Nigeria (CBN), the Corporate Affairs Commission (CAC), the Bureau de Change (BDCs), and other individuals connected to the case.

Madaki revealed that the EFCC received responses from the entities involved, and Silver Macnamara was found to have an account with Diamond Bank. The statement of account from Silver Macnamara was analyzed, showing various withdrawals and deposits. The owners of the companies and individuals involved were subsequently invited for questioning.

During the investigation, information was received that part of the funds received by Silver Macnamara had been withdrawn and transported to Akure by aircraft.

Madaki and his team went to the local airport in Abuja to file a complaint, but they were informed that no plane had flown. They continued their investigation in Lagos and discovered that Gyero Airline had flown to Akure on June 17, 2014.

Further inquiries led them to the office of Gyero Airline, where officials confirmed that they had transported parcels for former minister Musiliu Obanikoro to Akure, brought by Diamond Bank. Diamond Bank officials were interviewed and confirmed that over N1.2 billion was withdrawn from the bank and handed over to Obanikoro at the Lagos Airport.

Madaki and his team proceeded to Akure, where airport authorities confirmed Obanikoro’s arrival with the aforementioned airline, along with two other individuals.

They then visited Zenith Bank, which confirmed that they received over N1 billion in cash from Biodun Agbele and provided details of how the funds were distributed.

Among the accounts provided were the personal account of the defendant (Fayose), Spotless Investment Limited (belonging to Fayose and his family), Privateer Limited (belonging to Abiodun Agbele), and Steel Health Limited.

It was discovered that the remaining cash was taken to Ado Ekiti, which was revealed to be the residence of Ayodele Fayose, the defendant. The funds were traced back to the National Security Adviser’s impress account under the control of the NSA.

According to Madaki, the mandate obtained from the CBN indicated that the funds were meant for the purchase of physical infrastructure equipment. Further investigation was conducted to find supporting documents related to the payment of the funds. The NSA’s office replied that there were no other documents apart from the instruction to pay the funds.

Madaki mentioned that on June 4, 2014, Silver Macnamara received N200 million in its Diamond Bank account, tagged as payment for physical security infrastructure.

However, the investigation found no evidence of any executed contracts for ONSA payment. Another N2 billion was traced from the NSA’s impress account for security services.

It was discovered that Senator Musiliu Obanikoro used his company as a disguise to receive the funds, which confirmed the banks’ statements that the funds were handed to Obanikoro as cash.

Further confirmation revealed that none of the beneficiaries of the funds, including Silver Macnamara and the defendant, performed any contracts for ONSA. Zenith Bank officials were invited for questioning, and they denied giving any money to Agbele or Privateers. As the investigation progressed, Senator Obanikoro confirmed that he had used the company to receive the funds, as agreed between the NSA and himself.

Obanikoro stated that the funds would be passed to the defendant through him. Prior to the funds’ arrival, the defendant had been inquiring about its status.

Obanikoro mentioned in his statement that he asked the defendant where the money should be deposited. The defendant instructed him to bring N1.2 billion in cash to Akure, along with $4 million and $1 million in two separate tranches. These funds were not transferred to disguise their origin, constituting a money laundering offense.