On Monday, June 1, Abubakar Madaki, a prosecution witness, testified before the Federal High Court in Ikoyi, Lagos, stating that former Ekiti State Governor Ayodele Fayose did not personally make any of the financial transactions central to the N6.9 billion fraud and money laundering charges against him.
Madaki, an investigating officer with the Economic and Financial Crimes Commission (EFCC), provided this evidence during cross-examination in Fayose’s ongoing trial. Fayose, alongside his company Spotless Investment Ltd, was first arraigned on October 22, 2018, on 11 counts of fraud and money laundering. He pleaded not guilty and was granted bail of N50 million. The case was later reassigned to Justice Chukwujekwu Aneke.
During Monday’s proceedings, Madaki was called as the 13th prosecution witness. Under cross-examination by the defense counsel Olalekan Ojo (SAN), Madaki confirmed there were no transactions relevant to the charges made personally by Fayose. He also acknowledged that his investigation was based on facts obtained from others involved in the transactions and documents recovered during the investigation.
The defense further questioned Madaki on various aspects of his investigation, including the transfer of N4.6 billion from the National Security Adviser (NSA) to Sivan Macnamara, purportedly meant for Fayose. Madaki clarified that the funds were given in cash to avoid traces and were not proceeds of drug activities.
The court adjourned the trial to continue on July 19, October 17, and October 18. The charges against Fayose include taking possession of N1.2 billion for his gubernatorial campaign, receiving $5 million from then-Minister of State for Defence Musiliu Obanikoro, and using crime proceeds to acquire properties. These actions contravene several sections of the Money Laundering Prohibition Act 2011.
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