Money Laundering: Court To Rule on Fani-Kayode’s Case on Feb. 10

A Federal High Court sitting in Lagos has fixed ruling on the competence of the money laundering charge brought against the former Aviation Minister, Femi Fani-Kayode for February 10.

Fani-Kayode is facing an amended 47-count charge which borders on money laundering.

Justice Rita Ofili-Ajumogobia stated on Monday when the case was called that she would have to rule on the case at a later date because one of the counsels in the suit filed written submissions out of time. 

The judge pointed out that it would take time to rule on the issue. She thus fixed the ruling for February 10.

At the last hearing, Prosecuting counsel, Festus Keyamo, had notified the court of amendment to the charges. .

After the first count was read to the accused person, Ifedayo Adedipe (SAN), his counsel raised an objection, after which he argued that the accused could not plead to the charge since it was invalid.

Adedipe argued that count one stated that the accused, “accepted cash payments of over N10 million”, without stating the donor of the said money.

He stated that it was alleged throughout the charge, that the accused “accepted various sums of money, without mentioning the names of the person from whom the monies were received.”

Adedipe had, therefore, submitted that the charge was invalid, “persecutory and oppressive”.

Keyamo in response, argued that the charges bordered on money laundering in which monies involved had no source as opposed to conversion or stealing, where there is a particular source.

He, therefore, submitted that he was prepared to file a written address on the issue.

The judge then ruled that both parties were at liberty to either file written addresses or address the court orally on the issue.

She had, however, added that the addresses should be filed two days from Jan. 27.

Chief Fani-Kayode was alleged to have transacted on with funds exceeding N500,000 million without going through a financial institution.

He was also alleged to have accepted cash payments in the tune of about N100 million, while he held sway as minister of aviation and minister of Culture and tourism, respectively which prosecutors say contravenes the provisions of Sections 15(1) (a) (b) (c) (d) and 15 (2) (a) (b) of the Money Laundering (Prohibition) Act, 2004.


Author: NewsAdmin

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