Glamtush
No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events
No Result
View All Result
Glamtush
No Result
View All Result

Fayose Back To EFCC Custody After Pleading Not Guilty To N30.8bn Fraud Charge

byCorrespondent
October 22, 2018
in Uncategorized
Reading Time: 2 mins read
Fayose
Share on FacebookShare on TwitterShare on PinterestShare on WhatsappShare on LinkedinShare on Telegram

The immediate past Governor of Ekiti, Ayodele Fayose, on Monday appeared before a Federal High Court, Lagos, charged with N30.8 billion fraud.

Fayose is being prosecuted by the Economic and Financial Crimes Commission (EFCC) alongside his company, Spotless Investment Ltd on an 11-count charge of N30.8 billion fraud.

READ ALSO

Union Bank Responds To High Court Ruling On NICON Investments Limited, Global Fleet And Jimoh Ibrahim Case

BREAKING: NECO Releases 2025 Basic Education Certificate Examination Results

He, however, pleaded innocence of the offences.

The defence counsel, Mr Kanu Agabi (SAN), who is a former Attorney General of the Federation, informed the court of a motion on notice for the bail of the accused.

He told the court that same had been served on the prosecution.

In response, the EFCC Prosecutor, Mr Rotimi Oyedepo, confirmed service of the bail application, but told the court that he required time to reply.

Justice Mojisola Olatoregun, consequently, adjourned the case until Oct. 24 for the hearing of the bail application.

Meanwhile, the court had ordered the temporary remand of Fayose in the custody of the EFCC pending bail.

According to the charge, on June 17, 2014, Fayose and Agbele were said to have taken possession of the sum of N1.2 billion for purposes of funding his gubernatorial election in Ekiti State which sum they reasonably ought to have known formed part of crime proceeds.

Fayose was alleged to have received a cash payment of the sum of five million dollars, (about N18 billion) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution and which sum exceeded the amount allowed by law.

He was also alleged to have retained the sum of N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds.

Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith Bank and the FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.

Besides, the accused was alleged to have used the aggregate sums of about N1.6 billion to acquire properties in Lagos and Abuja, which sums he reasonably ought to have known formed part of crime proceeds.

The accused was also alleged to have used the sum of N200 million to acquire a property in Abuja in the name of his elder sister, Moji Oladeji, which sum he ought to know also forms crime proceeds.

The offences, according to the EFCC, contravene the provisions of sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011.

 

 

Source: Daily Trust 

Related Posts

Union Bank
Business & Brands

Union Bank Responds To High Court Ruling On NICON Investments Limited, Global Fleet And Jimoh Ibrahim Case

July 9, 2025
2025 Basic Education Certificate Examination
Education

BREAKING: NECO Releases 2025 Basic Education Certificate Examination Results

July 9, 2025
ASIS
Business & Brands

The Alternative Bank Champions Bold Action For Africa’s Future Ahead Of ASIS 2025 Summit

July 9, 2025
MaWhoo
Celebrities

MaWhoo Takes Her Throne As Spotify EQUAL Africa Ambassador For July

July 9, 2025
Nigerian Idol Season 10
Celebrities

Purp And Raymu To Compete In Nigerian Idol Season 10 Grand Finale

July 9, 2025
2025 Admissions
Education

JAMB Sets 150 Benchmark For 2025 Admissions

July 9, 2025
Next Post
Bayelsa

Gunmen In Military Uniform Kill Many In Narayi, Kaduna

LATEST COVER

Priscilla Ojo

GPBN Associates Member

Fidelity Bank

Zenith Bank

Union Bank

Union Bank Responds To High Court Ruling On NICON Investments Limited, Global Fleet And Jimoh Ibrahim Case

July 9, 2025
2025 Basic Education Certificate Examination

BREAKING: NECO Releases 2025 Basic Education Certificate Examination Results

July 9, 2025
ASIS

The Alternative Bank Champions Bold Action For Africa’s Future Ahead Of ASIS 2025 Summit

July 9, 2025
MaWhoo

MaWhoo Takes Her Throne As Spotify EQUAL Africa Ambassador For July

July 9, 2025
Nigerian Idol Season 10

Purp And Raymu To Compete In Nigerian Idol Season 10 Grand Finale

July 9, 2025
2025 Admissions

JAMB Sets 150 Benchmark For 2025 Admissions

July 9, 2025
Benue

Fidelity Bank Delivers Hope to Internally Displaced Persons In Benue

July 9, 2025
Union Bank

Union Bank Strengthens Public-Private Partnership At Maiden International Civil Service Conference

July 9, 2025
MultiChoice Fined ₦766m

MultiChoice Fined ₦766m By FG For Privacy Breaches

July 7, 2025
Rasheed Ladoja

Ex-Oyo Governor, Rasheed Ladoja, Set To Become 44th Olubadan

July 7, 2025

GLAMTUSH

 

Glamtush publishes the latest trends in fashion, beauty, and lifestyle, as well as those making the fashion world interesting and adorable.

RELEVANT PAGES

  • About Us
  • Advertise
  • Contact Us

REACH OUT

Do you have any news for us? Event Coverage, Press Releases or Adverts? Then reach out to us via glamtush@gmail.com or glamtush15@gmail.com

OFFICE ADDRESS

Lagos, Nigeria

Copyright © 2022 Glamtush

  • About Us
  • Advertise
  • Contact Us
  • Disclaimer
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Glamtush – Nigeria News, Nigerian Newspapers, Naija News
  • Terms And Conditions
  • Write for Us

© 2022 Glamtush

No Result
View All Result
  • Home
  • News
  • Beauty
  • Business & Brands
  • Entertainment
  • Fashion
  • Features
  • Lifestyle
  • Politics
  • Sports
  • Telenovelas
  • Events

© 2022 Glamtush