N4.6bn fraud: EFCC re-arraigns Fani-Kayode, Nenadi Usman

By Innocent Anaba

Lagos—The Economic and Financial Crimes Commission, EFCC, yesterday, re-arraigned former Ministers of Aviation and Finance, Chief Femi Fani-Kayode and Senator Nenadi Usman for alleged N4.6 billion fraud.

They pleaded not guilty to the 17-count charge of laundering.

They were charge along with former Chairman of the Association of Local Government of Nigeria, ALGON and ex-Chairman of Kagarko Local Government Area of Kaduna State Mr. Yusuf Danjuma and a company, Jointrust Dimentions Nigeria Limited.

Count one of the charge reads: “That you, Nenadi Usman, Femi Fani-Kayode, Danjuman Yusuf And Jointrust Dimentions Nigeria Ltd on or about January 8, 2015, within the jurisdiction of this court conspired amongst yourselves to indirectly retain the sum of N1,500, 000,000.00 which sum you reasonably ought to have known forms part of the proceeds of an unlawful act to wit: stealing.”

They were also accused of indirectly retaining N300 million, N400 million and N800 million, all proceeds of corruption, according to EFCC.

EFCC said they allegedly committed the offence between last January 8 and last March 25, 2015 ahead of last year’s general election.

In another count, the prosecution alleged that Fani-Kayode directly retained N350m which he ought to have “reasonably known formed part of the proceeds of an unlawful act to wit: stealing.”

The commission said Fani-Kayode directly used the sum of N170million, among other sums, which he reasonably ought to have known forms part of the proceeds of corruption and stealing.

He was also accused of doing cash transaction of N24million with Olubode Oke, said to still be at large, without going through a financial institution.

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