N4.9bn Fraud: EFCC Re-Arraigns Fani-Kayode Before New Judge

The Economic and Financial Crimes Commission (EFCC) on Monday re-arraigned a former Aviation Minister, Femi Fani-Kayode, before a Lagos Division of the Federal High Court, for an alleged fraud of N4.9bn.

The ex-minister was earlier today re-arraigned before a new judge, Justice Rilwan Aikawa, after he objected to being tried before Justice Muslim Hassan of the same court before whom he was earlier arraigned on June 28, 2016.

Mr. Fani-Kayode, who was part of former President Goodluck Jonathan’s re-election campaign, was rearraigned alongside Nenadi Usman, a former minister of state for finance on a 17-count charge of money laundering and alleged diversion of N4.9 billion.

The 17 counts pressed against them border on conspiracy, unlawful retention of proceeds of theft and money laundering.

Others include one Danjuma Yusuf and a company, Joint Trust Dimension Nig. Ltd.

The anti-graft agency is accusing them of indirectly retaining N300m, N400m and N800m, all proceeds of corruption.

The EFCC also alleged that they committed the offence between January 8 and March 25, 2015, ahead of the 2015 general election.

In one of the counts, the defendants were accused of conspiring among themselves to “indirectly retain the sum of N1,500, 000,000.00 which sum you reasonably ought to have known forms part of the proceeds of an unlawful act to wit: stealing.”

The defendants pleaded not guilty before the judge.

After much deliberation, the judge adjourned the case till June 6 and 9.

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