The trial of former Aviation Minister, Femi Fani-Kayode and others over alleged N4.6bn, money laundering couldn't continue on Wednesday, due to the absence of prosecution and defence counsels.
The defendants were present in court when the case was called alongside some junior counsel from the office of defence counsel.In the charge, the defendants were alleged to have committed the offences between January and March 2015 in Lagos.
EFCC alleged that the defendants at various times unlawfully retained over N4.6bn, which they reasonably ought to have known formed part of the proceeds of unlawful acts of stealing and corruption. The Commission also alleged that in counts 15 to 17 Fani-Kayode and one Olubode Oke who is said to be at large, made cash payments of about N30m, in excess of the amount allowed by law, without going through a financial institution.
The said payments were alleged to have been made to one Paste Poster Co of No 125 Lewis Street, Lagos, in excess of amounts allowed by law. According to EFCC, the offence committed contravened Sections 15 , 16 , and 16 of the Money laundering Act, 2012.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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