The Economic and Financial Crimes Commission (EFCC) on Monday arraigned immediate past Governor of Ekiti State Mr. Ayodele Fayose at the Federal High Court Lagos for alleged N6.9billion fraud.
He pleaded not guilty to the charges.
His lawyer Mr Kanu Agabi (SAN), a former Attorney-General of the Federation, said he filed motion on notice for bail.
He told the court that it had been served on prosecution.
In response, the prosecutor, Mr Rotimi Oyedepo, confirmed service of the bail application, but told the court that he required time to reply.
Justice Mojisola Olatoregun consequently, adjourned the case until Wednesday for hearing of the bail application.
Meanwhile, following a plea by defence counsel on the temporary remand of Fayose, the court ordered that he be remanded in custody of the EFCC pending bail.
According to the charge, on June 17, 2014, Fayose and Abiodun Agbele were said to have taken possession of the sum of N1.2 billion, for purposes of funding his gubernatorial election campaign in Ekiti State, which sum they reasonably ought to have known formed part of crime proceeds.
Fayose was alleged to have received a cash payment of the sum of $5million, (about N1.8 billion) from the then Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution and which sum exceeded the amount allowed by law.
He was also alleged to have retained the sum of N300 million in his Zenith Bank account and took control of the aggregate sums of about N622 million which sum he ought to have known formed part of crime proceeds.
Fayose was alleged to have procured De Privateer Ltd and Still Earth Ltd, to retain in their Zenith and FCMB accounts, the aggregate sums of N851 million which they reasonably ought to have known formed part of crime proceeds.
Besides, the accused was alleged to have used the aggregate sums of about N1.6 billion to acquire properties in Lagos and Abuja, which sums he reasonably ought to have known formed part of crime proceeds.
The accused was also alleged to have used the sum of N200 million, to acquire a property in Abuja, in the name of his elder sister Moji Oladeji, which sum he ought to know also forms crime proceeds.
The offences contravenes the provisions of sections 15(1), 15 (2), 15 (3), 16(2)(b), 16 (d), and 18 (c) of the Money Laundering Prohibition Act 2011
