N4.6bn fraud: Court adjourns Usman, Fani-Kayode’s trial to Dec 2

Femi Fani-Kayode

A Federal High Court in Lagos, on Tuesday, further adjourned the trial of a former minister of state for finance, Nenandi Usman, and others over N4.6 billion money laundering charges until December 2.

Usman is being tried alongside a former minister of aviation, Femi Fani-Kayode; a former chairman of the Association of Local Governments of Nigeria (ALGON), Yusuf Danjuma; and a company, Jointrust Dimension Ltd.

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They were arraigned on 17-counts of money laundering by the Economic and Financial Crimes Commission (EFCC) which they all pleaded not guilty to and were granted bail accordingly.

The trial, which was earlier scheduled for continuation on Tuesday, has now been moved to December 2.

Fani-Kayode and others are alleged to have committed the offences between January and March 2015.

In counts one to seven, they were alleged to have unlawfully retained over N3.8 billion which they reasonably ought to have known formed part of the proceeds of an unlawful act of stealing and corruption.

In counts eight to 14, they were alleged to have unlawfully used more than N970 million, which they reasonably ought to have known formed part of an unlawful act of corruption.

However, in counts 15 to 17, Fani-Kayode and another said to be at large, Olubode Oke, was alleged to have made cash payments of about N30 million, in excess of the amount allowed by law, without going through a financial institution.

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Also, Fani-Kayode was alleged to have made payments to Paste Poster Co (PPC) in Lagos in excess of amounts allowed by law.

The alleged offences contravene the provisions of sections 15 (3) (4), 16 (2) (b), and 16 (5) of the money laundering (prohibition) (Amendment) Act, 2012.