Loading ...Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos has adjourned the fraud trial of former Ekiti State Governor, Ayodele Fayose.
The former governor is standing trial alongside his company, Spotless Investment Limited, on an 11-count bordering on fraud and money laundering to the tune of N2.2 billion.
Led in evidence on Friday by prosecution counsel Mr Rotimi Jacobs SAN, the witness who is a former employee of Skye Bank Plc (now Polaris Bank Plc), Olugboyega Falaye, gave his testimony before the trial judge.
He told the court how the bank had sold a property on 44, Plot 1214, Osun Crescent, Maitama, Abuja for N200 million sometime in 2016.
Falaye, who worked in the Real Estate Department of the bank, told the court that the property in question was put up for sale among other properties by the bank, after the approval granted by the Board, as well as the Central Bank of Nigeria (CBN).
He said the list of the properties to be sold was given to a property agent.
The witness stated, “Thereafter, Skye Bank got a contact with a letter from Philtech Properties Limited in respect of the property in question. Philtech Properties Limited was represented by one Mrs. Titilayo and she made an offer for the property for the sum of N200 million.
“Skye Bank countered for N300 million, but we later agreed to sell the property for N200 million. We came up with all necessary documents for the transaction and the property was sold out.”
Falaye also told the court that the documents for the transaction with some attachments were submitted to the EFCC.
He said, “The attachments are ‘letter of offer’ from Skye Bank to Signature Integrated Limited (the principal to Philtech Properties Limited); letter from Philtech in response to Skye Bank’s letter making a counter-offer of N200 million to Skye bank; an email to confirm the office address of Philtech and the list of assets that was approved for sale by Skye Bank.”
Under cross-examination by counsel to the defendants and Senior Advocates of Nigeria (SANs), Ola Olanipekun and Olalekan Ojo, Falaye admitted that Skye Bank issued receipts of payment to Signature Integrated Limited.
He, however, told the court that he was not aware of any transaction between Still Earth and Signature Integrated.
The witness, during further cross-examination, told the court that the valuation of the property was carried out before the sale.
“There was nothing unusual about the transaction because the transaction went through the normal process,” he said.
Falaye, however, told the court that he did not know the individual who bought the property.
After listening to the testimony of the witness, Justice Aneke adjourned the case until May 18, 19 and 20, 2020 for the continuation of trial.
Fayose, alongside Spotless Investment Limited is facing 11 counts charge bordering on criminal breach of trust, theft and money lundering.
In the charges, the EFCC alleged, among other things, that Fayose, on June 17, 2014, “took possession of the sum of N1, 219, 000,000 to fund your 2014 gubernatorial campaign in Ekiti State, which you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing.”
The ex-governor was also alleged to have on the same day “received a cash payment of $5,000,000 from Senator Musiliu Obanikoro, the then Minister of State for Defence, which sum exceeded the amount authorised by law and you thereby committed an offence contrary to sections 1 and 16(d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 16 (2)(b) of the same Act.”
Fayose and Spotless Investment Limited pleaded not guilty.
