The Economic and Financial Commission, EFCC, on Thursday, February 6, 2014 re-arraigned a former Minister of Aviation, Chief Femi Fani-Kayode before Justice Rita Ofili-Ajumogobia of the Federal High Court, Lagos on a 40-count charge of money laundering
Fani-Kayode’s re-arraignment followed the amendment of the previous 47 criminal counts charge of money laundering involving about N230 million.
One of the counts reads, “that you Chief Femi Fani-Kayode on or about the 22nd day of November 2006 whilst serving as Minister of Aviation of the Federal Republic of Nigeria did a transaction exceeding N 500,000.00 (five hundred thousand naira) which was not done through a financial institution by accepting cash payment of N10,000,000.00 (Ten Million Naira) which sum was further carried in cash to First Inland Bank Plc, Apapa Branch (now First City Monument Bank Plc) through one Mark Saviour Ndifreke (your close associate now at large) and put in an Investment Account in your favour for 90 days contrary to section 15(1) (d) and punishable under section 15(2) (b) of the Money Laundering (Prohibition) Act 2004.
He pleaded not guilty to the charges.
Justice Ofili-Ajumogobia granted the defendant’s request to be placed on a subsisting bail “for being a senior member of the bar and a chieftaincy title holder.”
March, 2014