The Economic and Financial Crimes Commission (EFCC) has reopened a case of alleged N6.9 billion fraud against former Ekiti state governor, Ayo Fayose. A former EFCC operative, Abubakar Madaki, testified before a Federal High Court in Lagos and recounted how a former minister of state for defense, Musiliu Obanikoro, handed over N1,219,000,000 in cash to Fayose. The EFCC accused Fayose and his firm, Spotless Investment Limited, of laundering N6.9 billion.
According to Madaki, Fayose used some of the money to purchase property worth N270 million from a man named Rabiu Kundili in Abuja and deposited N100 million in a fixed account.
Madaki also revealed that between June 17 and June 27, 2014, Biodun Agbele, an aide to Fayose, lodged a total of N150 million cash deposit into the bank account of Spotless Investment Limited, which is the second defendant in the case.
On August 24, 2016, Spotless Investment Limited’s bank account received another deposit of N168 million, which was released from the impress accounts in the office of the Secretary to the Government of the Federation and was part of monies under the control of the former National Security Adviser, Col. Sambo Dasuki (retd).
Madaki’s testimony contradicted Fayose’s claim that the N1,219,000,000 he received from Obanikoro was the campaign funds from his political party, the People’s Democratic Party (PDP). Madaki said that the EFCC contacted the PDP secretariat in Abuja during their investigation, and the party denied receiving any money from the National Security Adviser or the office of the Secretary to the Government of the Federation. The PDP also stated that it did not give any campaign money to Obanikoro to give to Fayose.
According to Madaki, the money that moved from Diamond Bank to Zenith Bank was part of the funds that came from the impress account under the control of the office of the National Security Adviser to President Goodluck Jonathan, Col. Sambo Dasuki. The first defendant, Fayose, and his associate, Abiodun Agbele, were given an opportunity to explain the source of the huge sum of money deposited into the account of the second defendant, but they could not give any reasonable explanation.