femi fani-kayode
femi fani-kayode

Economic and Financial Crimes Commission, EFCC, has arraigned former Minister of Aviation, Femi Fani-Kayode, before a Federal High Court in Lagos for allegedly laundering N4.9 billion.
Fani-Kayode, who served as the director of Media and Publicity in the campaign organisation of former President Goodluck Jonathan, was arraigned alongside former Minister of Finance, Nenadi Usman, Danjuma Yusuf and a company — Joint Trust Dimension Nig. Ltd.
They are facing a 17-count charge bordering on unlawful retention, use, and payment of money in the tune of about N4.9 billion.
They pleaded not guilty to the charges which were alleged to have been committed between January and March 2015.
After their arraignment, the prosecutor, Mr Rotimi Oyedepo informed the court that he was prepared to proceed with the trial at any date of adjournment.
Meanwhile, counsel to the first and second accused, Mr Ayo Adedipe (SAN) and Mr Fred Orbih told the court that a bail application had been filed on behalf of the defendants.
But counsel to the third accused, Mr S.I. Ameh said he had yet to file a bail application.
Responding, Oyedepo informed the court that he had only been served with the application of the first and second accused, adding that he required time to reply.
Justice Sule Hassan in a short ruling adjourned the case to July 1 for the hearing of the bail applications.
He, however, ordered that the defendants be remanded in prison custody pending determination of their bail applications.
On counts one to seven, they were alleged to have unlawfully retained about N3.8 billion which they “reasonably ought to have known formed part of the proceeds of an unlawful act of stealing and corruption.”
On counts eight to 14, the accused were alleged to have unlawfully used about N970 million which they “reasonably ought to have known formed part of an unlawful act of corruption.”
Meanwhile, on counts 15 to17, Fani-Kayode, together with a man, Olubode Oke, still at large, were alleged to have made cash payments of about N30 million in excess of the amount allowed by law without going through a financial institution.
Besides, Fani-Kayode was alleged to have made payments to one Paste Poster Co. (PPC) of No. 125, Lewis St., Lagos, in excess of amounts allowed by law.
The offences, according to the EFCC, contravene the provisions of Sections 15 (3), (4), 16 (2), (b) and 16 (5) of the Money Laundering (Prohibitions) (Amendment) Act, 2012.


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