‘N1.2bn fraud’: FG appeals ruling upholding no-case submission of Fayose’s ally

The federal government has filed an appeal seeking to overturn a ruling upholding a no-case submission filed by Abiodun Agbele, an associate of Ayodele Fayose, former governor of Ekiti.

In a notice, the federal government said the trial court erred when it held that Agbele, Sylvan Mcnamara Limited, De Privateer Limited, and Spotless Investment Limited do not have a case to answer.

The defendants are standing trial on a 24-count amended charge bordering on money laundering to the tune of N1.219 billion.

The money is part of the N4.7 billion allegedly transferred from an account belonging to the Office of the National Security Adviser (ONSA) and domiciled in the Central Bank of Nigeria (CBN).

The Economic and Financial Crimes Commission (EFCC) is prosecuting Agbele for indirectly accepting the sum in cash through an official of Zenith Bank in Akure, Ondo state.

The money was allegedly delivered by Musiliu Obanikoro, a former minister of state for defence, on behalf of Fayose, in June 2014 without going through a financial institution.

The EFCC said Agbele committed an offence contrary to Section 1(a) of the Money Laundering (Prohibition) Act 2011 (as amended).

The anti-graft agency also accused Agbele of aiding De Privateer Limited to take possession of N200 million — which was part of the N1.219 billion — on behalf of Fayose, contrary to Section 18 (a) of the Money Laundering Prohibition Act 2011 (as amended) and punishable under section 18 of the same Act.

However, in June, Nnamdi Dimgba of the federal high court Abuja upheld the no-case submission application filed by the defendants.

This happened after the prosecution called 16 witnesses between September 2016 and 2024. Instead of opening a defence, the defendants filed a no-case submission.

In the notice seen by TheCable, on Sunday, the federal government is faulting the trial court’s ruling on 17 grounds.

The federal government said the junior court did not properly evaluate the testimonies of its witnesses or 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 earmarked for security purposes and paid into the account of the 2nd Respondent by the office of the NSA was unlawfully diverted by the 1st, 3rd and 4th Respondents to fund the Governorship Election of former Governor Ayo Fayose in Ekiti State,” the government said in the notice.

“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 entitled to import into a statutory provision what is not expressly inserted therein by the draftsman.”

The government argued that “it is immaterial whether the origin of the funds is illicit or legitimate as long as the payment and receipt of cash is outside the statutory threshold”.