Fani-Kayode Faces Money Laundering Charges

Femi Fani-Kayode
Femi Fani-Kayode

Former Minister of Aviation, Femi Fani-kayode will be prosecuted by the Economic and Financial Crimes Commission, EFCC, on a 17-count charge bothering on fraud and money laundering.

Fani-Kayode would be arraigned at the Federal High Court, Lagos, along with Nenedi Usman, a former minister of finance, Danjuma Yusuf and a company named John Trust Dimensions Nigeria Limited.

The charges border on conspiracy, unlawful retention of proceeds of theft and money laundering.

The suspects were said to have allegedly committed the offences between January 8, 2015, and March 25, 2015, in the build-up to the general election.

In one of the counts, the EFCC alleged that Fani-Kayode, who is listed as the 2nd defendant in the charge sheet, and his co-defendants conspired among themselves to “indirectly retain the sum of N1.5billion, which sum you reasonably ought to have known forms part of the proceeds of an unlawful act to wit: stealing.”

The charge sheet indicated that the said crime constituted an offence under Section 18(a) of the Money Laundering (Prohibition) (Amendment) Act, 2012, punishable under Section 15(3)( 4) of the same Act.






     

     

    In another count, the EFCC alleged that Fani-Kayode “directly retained the sum of N350m,” which the anti-graft agency claimed he ought to have “reasonably known formed part of the proceeds of an unlawful act to wit: stealing.”

    Fani-Kayode was accused of directly using parts of the money at various times, including a sum of N250,650,000, which he allegedly used between March 20 and 25, 2015.

    Fani-Kayode was also accused of making a cash transaction of N24m with one Olubode Oke, said to still be at large, on February 12, 2015 “to Paste Poster at 125, Lewis Street, Lagos Island.”

    The duo were said to have made the transaction without going through any financial institution, an act the EFCC claimed was contrary to Sections 1(a) and 16(d) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 16(2)(b) of the same Act.

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