We reported N1.2bn lodgment by Fayose’s aide, Zenith Bank tells court

A top official of Zenith Bank Plc, Dr Abiodun Oshode, has told Federal High Court, Lagos that the bank reported a N1.2bn lodgment by an aide of former governor of Ekiti State, Ayodele Fayose.

The former governor is standing trial at the court for charges bordering on money laundering and stealing of money belonging to the state.

Testifying in court on Tuesday, Oshode who was led in evidence by the prosecution for the Economic and Financial Crimes Commission, Mr Rotimi Jacobs (SAN), also claimed that Fayose would not fill tellers for bank transactions.

He narrated how the bank took a bullion van to the airport to evacuate a cash sum of N1.219bn from an aircraft, claiming the operation was at the instance of Abiodun Agbele – an aide to Fayose.

He also told the court that former Minister of State for Defence, Musiliu Obanikoro, was present during the operation at the airport but added that “we did not interact.”

According to Oshode, Fayose’s aide, Agbele, supplied three bank accounts: Privateer Nigeria Limited; Spotless Investment Limited and a personal account of Fayose into which he said the money was lodged.

He also listed “Ayodele Fayose and Mrs Olayemi Fayose” as the signatories to the account of Spotless Investment Limited.

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Under cross-examination by Fayose’s lawyer, Mr Ola Olanipekun (SAN), whether “seeing such volume of money being paid into your bank,” the bank reported to the authorities the N1.219bn cash lodgment as “illicit or suspicious,” Oshode said, “It was reported.”

Adding that it was the standard practice by banks report cash transactions above N1m for an individual and N5m for a corporate body.

“Pursuant to the report, did you get any instructions to stop the transaction?” Olanipekun asked.

“No”, Oshode said

“Would you agree with him that the transaction was not stopped because it was deemed appropriate,” the defence counsel asked Oshode.

“I agree”, the banker replied.

“You also agree that the defendant invited your bank because they too believed the transaction was appropriate?” Olanipekun asked. and responding,

“Yes,” Oshode said.

When the second defence counsel, Mr Olalekan Ojo (SAN), told Oshode that “At no time did you see the 1st defendant (Fayose) filling any teller at any branch of your bank, either in Ekiti or Akure,” the banker said, “Excellency will not do that.”

Justice C.J. Aneke adjourned further proceedings till Wednesday.

The EFCC alleged, among others, that Fayose, on June 17, 2014, “took possession of the sum of N1, 219, 000,000 to fund your 2014 gubernatorial campaign in Ekiti State, which you reasonably ought to have known formed part of the proceeds of an unlawful act, to wit: criminal breach of trust/stealing.”

The ex-governor was also alleged to have on the same day “received a cash payment of $5,000,000 from Senator Musiliu Obanikoro, the then Minister of State for Defence, which sum exceeded the amount authorised by law and you thereby committed an offence contrary to sections 1 and 16(d) of the Money Laundering (Prohibition) Act, 2011 (as amended) and punishable under Section 16 (2)(b) of the same Act.”