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N2.2bn Fraud: Fayose Trial Resume Today

The N2.2bn fraud trial of a former Governor of Ekiti State, Mr Ayodele Fayose, and a firm, Spotless Investment Limited, will resume today before the Federal High Court in Lagos.

Justice C. J. Aneke adjourned the matter till today after an official of First Bank testified as the 9th prosecution witness yesterday.

Led in evidence by the prosecuting counsel for the Economic and Financial Crimes Commission, Mr Rotimi Jacobs (SAN), the witness, Taiwo Ogundein, pointed out to the judge from bank documents, inflows and outflows of huge sums of money from the First Bank account of a firm, Still Earth Limited.

One of the EFCC’s claims against Fayose was that he purchased a N200m Abuja property from Skye Bank in the name of “his elder sister, Mrs Moji Oladeji.”

An ex-Skye Bank official, Olugbenga Falai, had in March told the court that the N200m payment for the property was made to Skye Bank “from a Zenith Bank account named Still Earth Limited.”

Mr. Ogundein, who said he manages Still Earth Limited’s account with First Bank, told the judge that the one Hoff Concepts Limited credited the account with N40m on January 29, 2015; while De Privateers Limited paid in N39.5m on January 30, 2015.

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Ogundein said on the same January 30, 2015, N70.7m was transferred from Still Earth Limited’s account to one Capital Field Investment and Trust Limited; while Still Earth account, in turn, received N132m credit from Samchase Ltd.

“On February 11, 2015, there was an inflow of N200m from De Privateers Limited, while on May 13, 2016, there was an inflow of N47m from the same Se Privateers,” the witness added.

Under cross-examination by the defence counsels, Messrs Ola Olanipekun (SAN) and Olalekan Ojo (SAN), Ogundein affirmed that neither Fayose nor Spotless Investment Limited featured in the transactions.

The witness, however, said he could not confirm whether First Bank considered the transactions of Still Earth’s legal or suspicious.

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Akinlade I. WAHAB is a dedicated journalist and the proprietor of I-WAHAB Media. He embarked on his career at Murhi International TV (MiTV) and subsequently joined Radio Nigeria as a Judicial Correspondent.With a profound interest in legal reporting, he currently holds the positions of Chairman at the National Association of Judicial Correspondents (NAJUC), Ikeja Branch, and Chairman at the Nigeria Union of Journalists (NUJ), Radio Nigeria Chapel.As the owner of I-WAHAB Media, he has successfully established Top Court News, a platform renowned for providing comprehensive coverage of court cases and legal developments, with the aim of promoting transparency within the judicial system.Akinlade's diligent work and unwavering commitment to ethical reporting have earned him immense respect within the Nigerian journalism community.

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