Fayose, Obanikoro Fingered in N4.7billion Fraud by EFCC

Detectives have traced about N4.745billion of the diverted $2. 1billion arms cash to a former Minister of State (Defence),  Musiliu Obanikoro and Ekiti State Governor Ayodele Fayose.

The cash was sourced from the SAS Imprest Account of the Office of the National Security Adviser (ONSA) under ex-NSA Col. Sambo Dasuki (retd.) prior to the conduct of the June 21, 2014 Ekiti State governorship election, according to an Economic and Financial Crimes Commission (EFCC) investigation.



Others linked with the sharing of the slush funds include Fayose’s associate, Abiodun Agbele(Alias Abbey); Mrs. Helen Olayemi Fayose; Obanikoro’s sons — Gbolahan and Babajide —  Ikenna Ezekwe; Sylvan Mcnamara Limited(a company allegedly  run by the Obanikoros); Spotless Hotel, owned by Fayose and De Privateer Limited, which is owned by  Agbele.

About 30 bureaux de change changed N759, 384, 300 (out of the N4.745billion) into dollars.
 A curious aspect of the findings by the EFCC is how Obanikoro, as a minister, flew N1.218billion to Akure on June 12, 2014 for Fayose a few days before the election.

According to documents obtained by our correspondent, EFCC investigators discovered that a firm, Sylvan Mcnamara Limited, allegedly owned by Obanikoro and his sons,   was used to launder the N4.745billion.

The directors of the company, which was incorporated in November 2011, are: a close aide of the ex-Minister, Ikenna Ezekwe(700,000 shares) of 51 Simpson Street, Ebute-Metta; Idowu Oshodi(299,000 shares) of 8, Prince Tayo Adesanya Street, Park View Estate, Ikoyi; and Elizabeth Adebiyi(1,000 shares) of 3, Adedoyin Street, Ijeshatedo, Surulere.

“To set the stage for the use of the company for money laundering, the board of directors on May 7, 2012  passed a resolution that the company should open an account and appointed Mr. Gbolahan Obanikoro, Ikenna Ezekwe, Ms. Theresa Matuluko (Secretary) and Mr. Babajide Obanikoro as the signatories to the account.

“The board added that the signing combination be that any of the signatories can sign alone.”

According to the EFCC, when it was time to illegally draw the N4.745billion from ONSA for election, Obanikoro made the account of Sylvan Mcnamara Limited available and coordinated the disbursement.

The breakdown of the disbursement is N759, 384, 300 changed into dollars through bureaux de change; N160million spent on cars through Balmoral International Limited; N1, 219, 490,000 ferried by Obanikoro in two flights to a branch of Zenith Bank at Plot 13, Alagbaka Estate, Akure to evacuate the cash and received by Fayose’s associate, Abiodun; balance of about N2billion withdrawn by Obanikoro and his two children in cash.

Some of the bureaux de change and the amounts credited to them include  A.A.G.B.S Oil and Gas  (N168,000,000.00); Sylvan Mcnamara Ltd (N167,500,000.00); Northline Ltd (N835,000.00);  Northline Ltd (N83,750,000.00); Five Star Ltd N(37,600,000.00); A.B.A Trading Ent (N268,301,500.00); Villagolf Bureaux De (N1,425,000.00); Ahmad Ahmad &Omar (N350,000.000); Northline Ltd  (N1,680,000.00); Northline Limited A (N2,325,300); Rehoboth Homes  (N20,000,0000); Northline Ltd (N5,932,500.00); Northline Ltd (N842,500); Northline Ltd (N842,500.00).