See How Fani-Kayode Receives N350 Million Without Execution of Project – EFCC (SEE MORE REVELATIONS)

See How Fani-Kayode Receives N350 Million Without Execution of Project - EFCC
Spread the love

Federal High Court Ikoyi was told how Femi Fani-Kayode collected the sum of N350 million from the Ministry of External Affairs through his Zenith Bank  without executing any project or rendering any service to the ministry.

The revelation was made by the Investigative Officer of the Economic and Financial Crimes Commission, EFCC Shuaibu Shahu.

Shahu said this on Wednesday before Justice Rilwan Aikawa, while giving a report of the commission’s investigation into the N4.9billion fraud allegation against the former minister, who also served as the campaign director of former President Goodluck Jonathan.

READ ALSO: Court Sentences 200 Level Student of FUNAB To One Year Imprisonment For Dating Scam

Led in evidence by Rotimi Oyedepo, counsel to the EFCC, Shuaibu stated that the sum of N800million was transferred from the Ministry of External Affairs to a company called Joint Trust Dimension Ltd. on January 16, 2015. He said the funds were transferred without evidence of prior engagement with the ministry.

Alleging that the Joint Trust Dimension was used to divert the funds by Fani-Kayode, he said he tendered various Zenith Bank cheques that were used for the alleged fraud. He said the bank documents were recovered in the course of the investigation.

However, as the anti-graft agency was about to tender a set of 115 Zenith Bank cheques used to make various withdrawals that constituted the alleged crimes, Norrison Quakers, counsel to Fani-Kayode, sought an adjournment.

He said the time asked was to allow him go through the cheques in the proof of evidence.

READ ALSO: JUST IN: JAMB To Shift 2019 UTME Exams Date

Consequently, Justice Aikawa adjourned till Thursday, February 21, 2019 for further hearing.

Fani-Kayode, alongside Nenadi Usman, a former Minister of State for Finance, one Danjuma Yusuf and Joint Trust Dimensions Limited, are on trial for money laundering and conspiracy to commit crime.

The defendants are standing trial on a 17-count charge bordering on conspiracy, unlawful retention of proceeds of theft and money laundering.

Fani-Kayode was accused of conspiring with the others to, directly and indirectly, retain various sums, which the EFCC claimed they ought to have reasonably known were proceeds of crime.

In one of the counts, the defendants were accused of conspiring among themselves to “indirectly retain the sum of N1,500,000,000.00” which sum they ought to have known “forms part of the proceeds of an unlawful act to wit: stealing.”

READ ALSO: JUST IN: Saturday General Elections Will Hold, Nothing Can Stop It – INEC Confirms

They were also accused of indirectly retaining N300million, N400million and N800million, alleged to be proceeds of corruption. Fani-Kayode was accused of directly using part of the money at various times, including N250,650,000.00, he allegedly used between March 20 and 25, 2015.

He was accused of making transactions without going through any financial institution, an act the EFCC claimed contravened sections 1(a) and 16(d) of the Money Laundering (Prohibition) (Amendment) Act, 2012, and punishable under Section 16(2)(b) of the same Act.

The defendants all pleaded not guilty.

www.sojworld.com (c) February 21, 2019

Be the first to comment

Leave a Reply

Your email address will not be published.


*


This site uses Akismet to reduce spam. Learn how your comment data is processed.