N6.9bn Fraud: EFCC Investigated Me For Illicit Funds -Obanikoro

A former Minister of State for Defence , Senator Musiliu Obanikoro Tuesday, admitted before a Federal High Court in Lagos, that he was investigated by the Economic and Financial Crimes Commission (EFCC) for being privy to illicit transfer of funds.

Obanikoro made the statement while giving evidence in the criminal trial of immediate past Governor of Ekiti State, Ayodele Fayose, facing charges of N6.9 billion fraud.

Fayose was arraigned by The Economic and Financial Crimes Commission (EFCC) on October 22, 2018, alongside a company Spotless Investment Limited, on 11 counts.

He, had pleaded not guilty to the charges, and the court had granted him bail in the sum of N50 million with one surety in like sum.

Trial had commenced on November 19, 2018, with the EFCC calling four witnesses, while the court had then adjourned for continuation of trial.

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At the resumed hearing of the matter on Tuesday, Mr Rotimi Jacobs (SAN) appeared for the EFCC, while Messrs Ola Olanipekun (SAN) and Olalekan Ojo (SAN) represented the first and second defendant respectively.

Obanikoro, the fifth prosecution witness who had began his evidence on JJanuary 21, and cross examined on February 4, mounted the witness box in continuation of his cross examination.

Obanikoro during cross examination by second defence counsel,  Mr Olalekan Ojo (SAN), told the court that during his tenure as Commissioner in Lagos in charge of Home Affairs and Culture, he had interfaced with various security agencies in the discharge of his duties.

According to him, he had sourced for a security outfit known as Silva Mcnamara,  owned by one Kareem Taiwo, to the office of the National Security Adviser, (NSA)  when the need arose to provide for security operations in Lagos State.

He said that the outfit performed credibly and did a good job.

Ojo then asked the witness, “you said Kareem Taiwo did a good job” Witness replied “Yes, “

Ojo “Then are you not surprised that a petition was still written by the NSA against both of you, for having gotten money from the NSA illicitly, “

Obanikoro replied in the affirmative and added: “And I state that I deserve a medal of honour for the great work I did in securing Lagos State, “

Ojo: “Am sure you are aware of the offences you were alleged to have committed for which you were granted bail by the EFCC, ” Witness replied “Yes”

Defence counsel then asked the witness to tell the court the offence.

Obanikoro replied :”It was based on a petition sent by the NSA that about N4.6 billion or thereabout was sent in an account operated by me”

Defence :Will I be right to say that the allegations consisted of fraud”

Witness ” until I see it”

Defence asked: “Are you still on Administrative bail”

Witness replied: “Well, I have not been discharged to the best of my knowledge.

Defence : “It was also alleged that there were no approvals for the funds alleged to have been transferred to a number of companies listed  in exhibit I, including Silva Mcnamara,” the witness replied “correct”

Defence :”So I suggest to you that at all material time, you were being investigated to have been privy to illicit transfer of funds, “

Witness: “Correct”

Defence “Till today, the allegation of illicit transfer of funds has not being withdrawn against you by the EFCC, “

Witness “To the best of my knowledge you are correct, “

Defence “Did  you produce any document to show the relationship between Kareem and the office of the NSA contrary to allegations that the NSA does not know him “

The witness replied No, and added that the office of the NSA had responsibility for coordination of security across the nation, some of which are clandestine and not documented.

On who gave instructions to Diamond Bank for the release of N1.2 billion, Obanikoro replied that ” I was the only person that gave instructions to the bank”

Defence: “Can you tell the court by what means you gave the instruction and to whom, “

Witness “Verbally, to the then MD of Diamond Bank Mr Oti “

Defence: “Was there any time your verbal instruction was reduced into writing, “

Witness “No”

Defence “So, I suggest to you that what you are telling this Court is that there is no written record for the release of N1.2 billion by the bank”

Witness “Because of the nature of the job.,

Defence :look at exhibit E9 -E11″ and mention the names of the Directors of Silva Mcnamara,”

Witness :”Ezekwe Ikenna, Oshodi Idowu, and Adebiyi Elizabeth, “

Defence: “Who owns House 9, Layi Bembe, Park view Estate, Ikoyi,” Witness “That’s my house”

Ojo then said, i suggest to you that Ikenna Ezekwe lived in that house at one time or the other,”

Witness” Correct”

Subsequently, Ojo sought to tender an extra judicial statement made by the then SA to Obanikoro, Mr Justin Erukaa and the prosecutor objected to the tendering of the document.

Following the objection by prosecution,  Justice Mojisola Olatoregun adjourned the case till tomorrow, February 6 by 9.am , for counsel to address the court on the admissibility of an extra judicial statement.

According to the charge, on June 17, 2014, Fayose and one Agbele said to be at large, were alleged to have taken possession of the sum of N1.2 billion, for purposes of funding his gubernatorial election campaign 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 N1.8 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 and FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.

The former governor was also 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.

He 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 the EFCC are contrary to and punishable under 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.

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