Alleged N4.6bn Fraud: EFCC Cleared Me of Fraud after 21 Days in Detention, Obanikoro Tells Court

A Former Minister of State for Defence, Misiliu Obanikoro, yesterday told a Federal High Court, sitting in Ikoyi, Lagos, how he was incarcerated for 21 days by the Economic Financial Crimes Commission (EFCC), but later exonerated of any financial crime.

Obanikoro stated this while giving evidence in the trial of former Ekiti State Governor, Mr. Ayodele Fayose, who is facing trial over allegation of N4.6 billion fraud.

The former Minister told the Court that the EFCC acted in ignorance because after all the investigations carried out by the Commission, “common sense” prevailed and he was exonerated.

He explained: “I was invited by EFCC in 2016, and I came in from United States of America, but was incarcerated for 21 days, even when there is a presumption of innocence in law when allegation like this arise.

“Yes, a letter of complaint was written from the office of the National Security Adviser (NSA) but I believe that it was written out of ignorance because after all the investigation common sense prevailed and I was exonerated.”

Obanikoro in his evidence on how the sum of N2.2 billion was budgeted for the 2014 Ekiti State governorship election from the office of NSA.

The former minister said the funds came from the National Security Adviser’s impress account to Silver Maclamaran Nigeria Limited, a company under his control.

Led in evidence by the prosecutor, Mr. Rotimi Jacobs, the witness stated he was saddled with the security challenge the country was facing then, especially how to tackle Boko Haram.

The witness however under cross-examination by Olalekan Ojo, distanced himself from the operation of Silver Maclamaran Nigeria Limited, the company account that was used to warehouse the N2.2 billion from NSA’s impress account.

When asked what he knows about a Committee for fund raising towards the 2014 Ekiti State governorship election, Obanikoro said: “yes, I was the chairman of the Committee and a lot of funds were contributed even up to the national level of our party.”

Asked if he could remember the name of any member of the funds raising committee, he said “yes I can remember T. k Aluko and Lateef Agbaje.”

When asked if he was a signatory to Silver Maclamaran Nigeria Limited that received the funds from the office of the NSA, he said “No.”

When asked who were the signatories to the company’s account, the witness mentioned Olalekan Olalere

The presiding judge, Justice Aneke adjourned further trial to March 20 and 21, 2023.

According to the charge against Fayose, on June 17, 2014, him and Abiodun Agbele illegally took possession of N1.2 billion for purposes of funding his gubernatorial election campaign in Ekiti.

Fayose also allegedly received cash payment of $5 million (about N1.8 billion) from Obanikoro without going through any financial institution.

He was also charged for unlawfully retaining N300 million in a bank account and illegally taking control of about N622 million.

The EFCC alleged further that the former governor reasonably ought to know that the money was part of crime proceeds.

It also alleged that the defendants procured De Privateer Ltd. and Still Earth Ltd to illegally retain N851 million.

It claimed that Fayose used about N1.6 billion crime proceeds to acquire property in Lagos and Abuja.

The commission also charged Fayose with using N200 million crime proceeds to acquire a property in Abuja, in the name of his elder sister, Moji Oladeji.

The alleged offences contravened Sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act of 2011.