Fayose Fails To Meet Bail Conditions

Over 24 hours after he was granted bail by Justice Mojisola Olatoregun of the Federal High Court in Lagos, former Governor of Ekiti State, Ayodele Fayose is yet to regain his freedom.

TRACK NEWS investigative report revealed that the embattled former governor was yet to perfect his bail conditions.

According to one of the court officials, who does not want his name mentioned, the verification of the N50 million bond, which is one of the bail conditions, was yet to be done.

The source informed our correspondent that although the former governor has met other bail conditions, he cannot go home until the bail bonds are verified by the court registrar as ordered by the court.

It will be recalled that the judge granted Fayose bail in the sum of N50 million with two sureties in like sum.

The former governor, who is standing trial before the court on an 11-count charge of laundering the sum of N6.9 billion, was also ordered by the judge that his two sureties must issue a N50 million bond from a reputable bank as well as possess three years tax clearance.

The court further ordered that the former governor must deposit his travelling passport with the court and must not travel outside the court’s jurisdiction during the proceedings without the court’s permission.

But as at 4:00pm on Thursday when the court was closed for the day, some family members, political associates and aides, including, Fayose’s spokesman, Lere Olayinka were seen leaving the court premises disappointed.

They had stormed the court as early as 9:00am, hoping that Fayose’s lawyer would be able to perfect the bail conditions.

Effort to seek Olayinka’s reaction to the development was not successful, as he refused to talk to our correspondent.

The Economic and Financial Crimes Commission (EFCC) had arraigned Fayose before the court alongside his company, Spotless Limited and one Abiodun Agbele for money laundering and fraud.

The commission accused the former governor of taking possession of the sum of N1.2 billion on June 17, 2014 for purposes of funding his gubernatorial election campaign in Ekiti State, which sum they reasonably ought to have known formed part of crime proceeds.

The EFCC also alleged that Fayose received a cash payment of the sum of five million dollars, (about N1.8 billion) from the then Minister of State for Defence, Senator Musiliu Obanikoro, without going through any financial institution and which sum exceeded the amount allowed by law.

The commission further claimed that the accused persons allegedly retained the sum of N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds.

Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith and FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.

The accused persons was also alleged to have used the aggregate sums of about N1.6 billion to acquire properties in Lagos and Abuja, which sums he reasonably ought to have known formed part of crime proceeds.

The accused was also alleged to have used the sum of N200 million, to acquire a property in Abuja, in the name of his elder sister Moji Oladeji, which sum he ought to know also forms crime proceeds.

The offences contravenes the provisions of sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011

Fayose, however pleaded not guilty to the charge.