In a dramatic turn of events at the Federal High Court in Lagos, Mr. Abubakar Aliyu Madaki, a former operative of the Economic and Financial Crimes Commission (EFCC), has shed light on the alleged N6.9 billion fraud involving former Ekiti State governor, Ayodele Fayose. Madaki disclosed how Musiliu Obanikoro, a former minister of state for defense, transferred a staggering sum of N1,219,000,000 in cash to Fayose.
This revelation comes as Fayose and his firm, Spotless Investment Limited, face prosecution by the EFCC on charges of money laundering. Obanikoro had earlier testified that he transported N1.2 billion to Fayose in Ekiti via an aircraft.
Madaki, serving as the 13th Prosecution Witness, provided further details during the trial. He informed Justice Chukwujekwu Aneke that Fayose used part of the money to purchase property valued at N270 million from Rabiu Kundili in Abuja and also deposited N100 million into a fixed account.
The EFCC operative revealed that between June 17 and June 27, 2014, an additional N150 million in cash was deposited into the bank account of the 2nd Defendant, Spotless Investment Limited, by Biodun Agbele, an aide to Fayose. On August 24, 2016, N168 million was also deposited into the same account.
Madaki clarified that these funds were sourced from the impress accounts within the office of the Secretary to the Government of the Federation (SGF) and were part of monies under the control of the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd).
He refuted Fayose’s claim that the N1,219,000,000 received from Obanikoro was campaign funds from the People’s Democratic Party (PDP). The EFCC investigated this claim and confirmed that the PDP had not received any such funds from the NSA’s office or the SGF. Additionally, the PDP stated that it had not allocated campaign money to Obanikoro for the first defendant.
Justice Chukujekwu Aneke has adjourned the matter until November 24 for the continuation of the trial. Fayose and Spotless Investment Limited were re-arraigned for alleged money laundering and non-declaration of assets. The EFCC has charged Fayose and Abiodun Agbele with 11 counts of money laundering and stealing an amount of N6.9 billion.
These charges allege criminal breach of trust, theft, and stealing of public funds. The EFCC contends that on June 17, 2014, Fayose and Abiodun Agbele received N1.219 billion without using financial institutions and accepted $5 million from Senator Musiliu Obanikoro, then the Minister of State for Defense. The offenses fall under the Money Laundering (Prohibition) Act, 2011, as amended, and are punishable under the same Act. Fayose has denied all allegations and pleaded not guilty to the charges.