EFCC charges Femi Fani-Kayode with amended 17 count money laundering allegation

EFCC charges Femi Fani-Kayode with amended 17 count money laundering allegation

On Monday, the Economic and Financial Crimes Commission (EFCC) charged Femi Fani-Kayode, a former Minister of Aviation, with an amended 17-count money laundering allegation.
Fani-Kayode is on trial with Nenadi Usman, a former Minister of State for Finance, Yusuf Danjuma, a former Chairman of the Association of Local Governments of Nigeria (ALGON), and Jointrust Dimensions Nigeria Ltd.
The EFCC had previously filed a 17-count allegation of N4.6 billion money laundering against the defendants before Justice Mohammed Aikawa, a former trial judge.
The defendants had each pleaded not guilty to the counts and were granted bail.
Hearing of the case had begun before Justice Aikawa and witnesses were being led in evidence before the trial judge was transferred out of the Lagos division of the court.
The case was subsequently assigned to a new trial judge, Justice Daniel Osaigor, and the defendants had to start the case from the beginning (de novo).
At Monday’s proceedings, the amended 17-count charge was read over to the defendants and they each pleaded not guilty.
After the plea, the prosecution counsel, Mr Rotimi Oyedepo asked the court for a trial date.
The defence counsel, Ferdinard Orbih (SAN), however, asked the court to allow the defendants to continue on the existing bail conditions granted by the former trial judge.
In a short ruling, the court allowed the defendants to continue on their existing bail conditions. He adjourned the case to March 11, for trial.
In the charge, the defendants were alleged to have committed the offences between January and March 2015 in Lagos.
They were accused of unlawfully retaining over N4.6 billion at various periods, which they reasonably should have known was part of the proceeds of illegal larceny and corruption.
In counts 15 to 17, Fani-Kayode and one Olubode Oke, who is claimed to be on the run, are accused of paying N30 million in cash to one Paste Poster Co (PPC) of No 125 Lewis St., Lagos.
The payments were allegedly made without going through a banking institution and in excess of the amounts authorized by law.
The charges were said to be in violation of the Money Laundering (Prohibition) (Amendment) Act, 2012, sections 15 (3) (4), 16 (2) (b), and 16 (5).

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