EFCC Indicts Fani-Kayode, Olu Falae In N3.145billion Fraud

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Operatives of the Economic and Financial Crimes Commission (EFCC) have on Monday traced N3.145bn transferred to the private accounts of some members of the Peoples Democratic Party Presidential Campaign Organisation – money shared during the build up to the 2015 presidential election.

Chief Femi Fani-Kayode
Chief Femi Fani-Kayodecc

While presenting evidence, the anti-graft agency said the money emanated from the account of the Central Bank of Nigeria and was transferred to the account of a company, Joint Dimensions Limited, and then sent to various accounts.

Olu Falae ashamed over Dasuki link
Chief Olu Falae

Those allegedly involved in the splitting of the slush funds are a former aviation minister and director of media for the Goodluck Jonathan Campaign organization, Femi Fani-kayode; former Secretary to the Government of the Federation and leader of the Social Democratic Party, Olu Falae; a former finance minister, Nenadi Usman; a former Imo state governor, Achike Udenwa; former minister of state for foreign affairs, Viola Onwuliri and politician Okey Ezenwa.

According to the EFCC documents, out of the money shared, Fani-Kayode allegedly received N840m, through his Zenith bank account, Maitama Branch with number 1004735721 on February 19, 2015.

Falae was said to have received N100m through a company, Marreco Limited, where he is chairman. The fund was credited into the company’s United Bank for Africa Plc account number 1000627022

A source at the anti-graft agency who pleaded not to be named because he is not authorised to speak said:

“The money was paid by the Central Bank of Nigeria into the account of the Ministry of External Affairs Library, from where it was moved into the account of Joint Trust Dimension Nigeria Limited.

“It was from the Joint Dimension’s account with Zenith bank that the money was shared to various individuals and organisations for purposes that are not stated.

“Fani-Kayode was the chief beneficiary of the disbursement as he allegedly received a whooping N840m, paid in three tranches into his Zenith bank, Maitama branch account with number 1004735721.

“The first tranche of payment involving N350m hit the account on February 19, 2015. Another N250m was also paid into the account on February19, 2015 while N240m was similarly credited to the account a month later; precisely, March 19, 2015.

“The balance in this account as of December 31, 2015 was N189, 402.72.”

Reacting, Fani-Kayode said he never received money from the CBN, adding that the monies that were spent were received from Usman who was the director of finance of the campaign organisation.

He said, “I served as the director of publicity and I was told to set up an account for the directorate, which I did. I never received money from the CBN but like all the other directors, we received money from the director of finance.

“I was assured that the monies were not public funds but were sourced from private individuals. I never knowingly spent government money all through. The monies were spent specifically on the campaigns. The accounts were audited and we were commended by the President.”

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