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N1.2bn fraud: EFCC rejects ruling freeing Fayose’s ally

N1.2bn fraud: EFCC rejects ruling freeing Fayose’s ally

EFCC report
EFCC report

The Economic and Financial Crimes Commission has rejected the ruling of Justice Nnamdi Dimgba of the Federal High Court in Abuja holding that the anti-graft agency failed to prove N1.2bn fraud against Abiodun Agbele, an associate of ex-Ekiti State governor, Ayodele Fayose.

The anti-graft agency, therefore, approached the Court of Appeal, praying that Justice Dimgba’s ruling upholding Agbele’s no-case submission be reversed.

The EFCC had arraigned Agbele and others on amended 24 counts bordering on money laundering to the tune of N1.2bn.

In a bid to prove the allegation, the anti-graft agency called several witnesses and tendered various documents.

Upon the close of the prosecution’s case, however, Agbele, rather than enter a defence, filed a no-case submission, contending that the EFCC failed to prove the allegations against him.

Justice Dimgba, in his ruling, agreed with Agbele and held that the EFCC failed to establish a prima facie case against the defendant, sufficient enough to ask him to put in a defence.

But the EFCC, in its appeal, contended that the judge misapplied the law.

It contended that the court erred when it held that Agbele, Sylvan Mcnamara Limited, De Privateer Limited, and Spotless Investment Limited did not have a case to answer.

The EFCC insisted that contrary to the ruling of the court, the evidence adduced were abundant enough to establish the N1.2bn fraud allegation.

It argued that the lower court failed to  properly evaluate the testimonies of its witnesses and the exhibits it tendered to the court.

“There is overwhelming evidence before the trial court that the sum of N1,219,000,000.00 from the account of the National Security Adviser of Nigeria, domiciled with CBN and earmarked for security purposes, paid into the account of the second respondent by the office of the NSA was unlawfully diverted by the first, third and fourth respondents to fund the governorship election of former Governor Ayo Fayose in Ekiti State.

“The trial court erred in law in using the ongoing proceedings before another court of competent jurisdiction to determine the merits of the proceedings before the trial court.

“The trial court is not authorized to introduce elements into a statutory provision that the draftsman did not explicitly include,” stated the EFCC.

Consequently, the agency has implored the Court of Appeal to reverse the lower court’s decision and compel Agbele and others to present their defense.

Agbele, among others, was charged by the EFCC with 24 amended counts of money laundering, involving a sum of N1.22 billion.

This amount was reportedly part of N4.7 billion purportedly moved from an account owned by the Office of the National Security Adviser, housed within the CBN.

It is alleged that the funds were conveyed by a former Minister of State for Defence, Musiliu Obanikoro, on behalf of Fayose in June 2014, bypassing any financial institution.

Agbele is accused of having indirectly received the cash amount through a bank official in Akure, Ondo State.

According to the EFCC, Agbele’s actions are in violation of Section 1(a) of the Money Laundering (Prohibition) Act 2011, as amended.

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