In a dramatic revelation at a Federal High Court in Lagos, Mr. Abubakar Madaki, a former operative of the Economic and Financial Crimes Commission (EFCC), shed light on a staggering financial transaction involving former Minister of State for Defence, Musiliu Obanikoro, and former Ekiti State Governor, Ayodele Fayose. Madaki’s testimony forms part of the ongoing prosecution of Fayose and his company, Spotless Investment Limited, for alleged money laundering amounting to N6.9 billion.
During his court appearance, Mr. Madaki disclosed the intricate details of how N1,219,000,000 in cash was transferred from Obanikoro to Fayose. According to Madaki, a portion of this money was used by Fayose to acquire a property valued at N270 million from Rabiu Kundili in Abuja, while another portion, N100 million, found its way into a fixed account.
Further unraveling the complex financial web, Madaki described how N150 million in cash was deposited into the bank account of Spotless Investment Limited between June 17th and 27th, 2014. This transaction was facilitated by Biodun Agbele, an aide to Fayose. Notably, an additional N168 million was deposited into the same account on August 24th, 2016.
Madaki clarified that these funds were sourced from the impress accounts within the office of the Secretary to the Government of the Federation and were originally under the control of the former National Security Adviser, Col. Sambo Dasuki (retd).
Challenging Fayose’s claim that the N1,219,000,000 was campaign funds for the People’s Democratic Party (PDP), the witness recounted an investigation conducted by the EFCC. The PDP’s national secretariat in Abuja refuted receiving any money from the National Security Adviser or the office of the Secretary to the Government of the Federation. The party also denied allocating campaign funds to Senator Musiliu Obanikoro for Fayose.
During the trial, both Fayose and his associate, Abiodun Agbele, were given an opportunity to provide a reasonable explanation for the massive sum of money deposited into Spotless Investment Limited’s account. However, they failed to do so, leaving this high-profile case poised for further revelations.
