Court Resumes Fani-Kayode’s Multi-Billion Naira Fraud Trial in January

Ololade Adeyanju|

A Federal High Court in Lagos has slated January 16, 17 and 18, 2017 for continuation of money laundering trial of a former Minister for Aviation, Femi Fani-Kayode.
Fani-Kayode, who was also former Director of Media and Publicity, campaign committee of ex President Goodluck Jonathan, is charged alongside a former Minister of Finance, Nenandi Usman, and Danjuma Yusuf.
Also charged is a company, Joint Trust Dimension Nig. Ltd.
They were arraigned on a 17 count charge bordering on unlawful retention, unlawful use and unlawful payment of money to the tune of about N4.9 billion.
They had each pleaded not guilty to the charge and were granted bail.
The trial of the accused, which was earlier billed for December 12, was disrupted because of the public holidays.
The court fixed the three days in January for continuation of trial.
In the charge, the accused allegedly committed the offences between January and March 2015.
In counts one to seven, they allegedly unlawfully retained over N3.8 billion which they reasonably ought to have known formed part of the proceeds of an unlawful act of stealing and corruption.
In counts eight to 14, the accused allegedly unlawfully used over N970 million which they reasonably ought to have known formed part of an unlawful act of corruption.
Meanwhile in counts 15 to17 Fani-Kayode and one Olubode Oke, who is said to be at large, allegedly made cash payments of about N30 million, in excess of the amount allowed by law, without going through a financial institution.
Besides, Fani-Kayode allegedly made payments to one Paste Poster Co (PPC) of No 125 Lewis St., Lagos, in excess of amounts allowed by law.
All offences contravened the provisions of sections 15 (3) (4), 16 (2) (b), and 16 (5) of the Money laundering (prohibition) (Amendment) Act, 2012.