Ondo PDP Chairman, DG arraigned for laundering N500m

Clement Faboyede

The Chairman of the People’s Democratic Party, PDP, in Ondo State, Clement Faboyede and the Director General of PDP Campaign Organization in the state during the last general election, Modupe Adetokunbo were on Friday arraigned before a Federal High Court in Lagos, Southwest Nigeria on a three-count charge of laundering N500 million.

According to the three count criminal charges number FHC/ L/201C/2018, filed before the court by the Economic and Financial Crimes Commission, EFCC, Deputy Chief Detective Superintendent, E Iheanacho, it was alleged that Faboyede and Modupe Adetokunbo and others at large on or about the 27th day of March, 2015
conspired among themselves to accept cash payment in the sum of N500 million from one Owolanke Micheal which exceeded N5 million without going through a financial institution contrary to section 1 of the money laundering (prohibition) Act, 2011 (as amended by Act 1 of 2012) and punishable under section 16(2) of the same Act.

However, in count three of the charge, Faboyede, while acting as the state chairman of the PDP on 27th day of March, 2015 was alleged to have made cash payment of the sum of N500 million to the Ondo sState Election Committee of the PDP which exceeded N5 million without going through a financial institution contrary to section 1 of the money laundering (prohibition) Act, 2011 (as amended by Act 1 of 2012) and punishable under section 16(2)of the same Act.

The two defendants pleaded not guilty to the charge. Consequently, the prosecuting counsel, Mr Iheanacho said in view of the plea of not guilty by the defendants, urged the court to remand them in prison custody and fix a date for trial to commence.
However, the defence counsel, Mr Eyitayo Jegede SAN, urged the court to admit them to bail, but the presiding judge, Justice Saliu Saidu asked him to file a formal application for bail, though, Mr Jegede told the court that formal application for bail had been filed but not yet in the court’s file.

Justice Saidu ordered that the defendants be remanded in prison custody and adjourned the case till 17 September, 2018 for trial.

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