Connect with us

Headlines

Alleged N6.9bn fraud: Witness reveals how Fayose’s associate bought properties worth N1.3bn in four months

Ayo Fayose

 Owolola Adebola

The eleventh prosecution witness, PW11, Joanne Tolulope, in the ongoing trial of a former Ekiti State governor, Ayodele Fayose, on Wednesday, December 1st 2021, told Justice Chukujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos how Fayose’s associate, Abiodun Agbele, had bought properties worth N1.3 billion within four months.

The Economic and Financial Crimes Commission, (EFCC,)Lagos Command had, on Tuesday, July 2, 2019, re-arraigned Fayose on an 11-count charge bordering on money laundering and stealing to the tune of N6.9bn( Six Billion Nine Hundred Naira).

Fayose was arraigned alongside one of his firms, Spotless Investment Limited, for the alleged fraud.

The defendants had first been arraigned on October 22, 2018, before Justice Mojisola Olatoregun.

At the resumed sitting on Wednesday, Tolulope, who was led in evidence by the counsel to the prosecution, Rotimi Jacobs, (SAN,) told the court that Agbele bought four chalets from her company, Still Earth Limited, between March and July 2015.

The witness, who is an in-house counsel for Still Earth Limited, also told the court that the company deals in real estate and also renovates properties to meet the needs and expected standards of their clients.

According to her, Agbele had put a call to the company, sometime between March and July 2015, to ask if they had properties for sale.

She said: “Incidentally, we have properties for sale. We discussed Mr. Agbele’s availability to come for an inspection.

“He came sometime in March 2015 to inspect the property and requested two chalets of three-bedroom and four-bedroom respectively and paid N575 million and some fractions for the property.

“Again, in July 2015, he approached us and bought chalets 6 and 9 for N573 million and some figures.

“He also approached us to register the Deed of Assignment in the name of JJ Technical Service.”

However, when Jacobs sought to tender the Deed of Assignment as an exhibit before the court, counsel to the defendant, Ola Olanipekun, (SAN) objected to its admissibility.

When asked how the money was paid, Tolulope told the court that the sum of N800 million was deposited by De Privateer Limited into the account of Still Earth Ltd, adding that there was a cash lodgment of the sum of N209 million from one Taofeek on Agbele’s instruction.

In her further testimony, she said: “ In January 2015, the sum of N105,750,000, was received from Capital Field Investment and Trust Limited.

“ The sum of N39,500,000 was received from Hoss Concept.

“Also, another N40 million was received from De Privateer Limited.

“ In February 2015, De Privateer Limited paid N200 million, while the sum of N132,500,000 was paid by a company called Sam Chase.”

The case has been adjourned to Thursday, December 2, 2021.

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Headlines

NIWA partners ICPC to strengthen internal transparency in its operations  

Gloria Odion, Maritime Reporter 
The National Inland Waterways Authority (NIWA) has announced new strategies aimed at improving its operational system and enhancing collaboration with key stakeholders as part of efforts to boost efficiency and accountability.
Speaking at a post event Press Conference at NIWA Headquarters Lokoja, the Acting Managing Director, Umar Yusuf Girei, while answering questions from journalists stated that, the organization convened a two -day Executive and Anti-Corruption training with the theme “Strengthening Integrity and Revenue System in Inland Waterways Management” organized for Board Members, Management and Area Managers and also 2026 NIWA Management Retreat in Abuja.
The Acting MD noted as part of the Renewed Hope Agenda of President Bola Ahmed Tinubu,with the support  Adegboyega Oyetola, Minister of Marine and Blue Economy, the Authority is focused on aligning institutional goals in ensuring better service delivery to Nigerians.
He further said, as part of its anti-corruption drive, the Management held discussions with the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to explore measures for strengthening transparency within its operations.
Girei therefore, assured staff that the ongoing reforms under his watch would translate into improved service and better working conditions.
“NIWA remains committed to continuous improvement and stakeholder engagement and the reforms are expected to enhance both internal performance and public confidence”. he stated.
Continue Reading

Headlines

Navy appoints new Maritime Guard Commander for NIMASA 

Gloria Odion,  Maritime Reporter 

The Chief of the Naval Staff, Vice Admiral Idi Abbas, has approved the appointment of Commodore Reginald Odeodi Adoki as the Commander of the Maritime Guard Command at the Nigerian Maritime Administration and Safety Agency (NIMASA).
Commodore Adoki takes over from Commodore H.C Oriekeze who has been redeployed.

Commodore Adoki, a principal Warfare Officer specializing in communication and intelligence,  brings onboard 25 years experience in the Nigerian Navy covering training, staff and operations.

 As a seaman, he has commanded NNS Andoni, NNS Kyanwa and NNS Kada.
It was under his command that NNS Kada under took her maiden voyage, sailing from the country of build (the United Arab Emirates) into Nigeria.
He was commissioned into the Nigerian Navy in 2000 with a BSc in Mathematics.
 He has since earned a Masters in International Law and Diplomacy from the University of Lagos and an M.Sc in Terrorism, Security and Policing at University of Leicester, England.
He is currently pursuing a Ph.D in Defence and Security Studies at the National Defence Academy (NDA).
He is a highly decorated officer with several medals for distinguished service.

Welcoming the new MGC Commander to the Agency, the Director General, Dr Dayo Mobereola, expressed confidence in Adoki’s addition to the team, emphasising that it will further strengthen the nation’s maritime security architecture given his vast experience in the industry.

The Maritime Guard Command domiciled in NIMASA was established as part of the resolutions of the Memorandum of Understanding (MoU) with the Nigerian Navy to assist NIMASA strengthen operational efficiency in Nigeria’s territorial waters, especially through enforcement of security, safety and other maritime regulations.

Continue Reading

Customs

Customs collects N1.585 trillion from 51 compliant traders under AEO programme 

Funso OLOJO,  Editor 
The Authorized Economic Operator (AEO), one of the trade facilitation tools introduced by the Nigeria Customs Service in 2025, has begun to yield bountiful harvests with the revenue growth of ₦362.79 billion recorded in 2025.
According to the AEO scorecard released by the Service, the facilitation tool grossed the sum of N1.585 trillion after certification, an increase revenue from N1.222 trillion before certification.
This represents the growth of N362.79 billion(29.68 per cent) for 51 AEO – certified entities as at October, 2025.
The Programme, according to the NCS,  also contributed 21.77% to its total revenue collection of ₦7.281 trillion in 2025, while customs duties paid rose by 85.66% due to enhanced compliance and increased volumes of legitimate trade.
According to AEO Monitoring and Evaluation (M&E) Report, the Programme achieved an average compliance rate of 85.45 per cent with the highest at 100 per cent and the lowest at 60 per cent.
“The evaluation applied rigorous methodologies to ensure objectivity, transparency, and alignment with the World Customs Organisation (WCO) SAFE Framework of Standards and the provisions of the Nigeria Customs Service Act, 2023.
“In the area of trade facilitation, AEO participation reduced average cargo clearance time from 168 hours to 41 hours, representing a 75.60% time saving.
“Company operating costs declined by 57.2 per cent while demurrage payments dropped by 90 per cent, limiting capital flight to foreign-owned port service providers and strengthening foreign exchange retention.
” Overall trade efficiency improved by 77.11 per  through digitalisation, simplified procedures, and targeted risk management” the Customs declared in the AEO scorecard.
However, the Service singled out with Eight companies for commendation due to their integrity and compliance under the programme.
The companies include Coleman Technical Industries Limited, WACOT Rice Limited, ROMSON Oil Field Services Ltd, WACOT Limited, Chi Farms Ltd, CORMART Nigeria Ltd, PZ Cussons Nigeria Plc, Nigerian Bottling Company Limited and MTN Nigeria Communications Plc.
The Service lauded them for a cumulative voluntary remittance of over a billion naira into the Federation Account following their self-initiated transaction review and disclosure.
“These actions reflect the strengthening of post-clearance audit mechanisms and a growing culture of voluntary compliance within the trading community.
Nevertheless, the Service suspended a firm under the programme for its non- compliance and display of lack of integrity.
The suspended firm engaged in false declaration of consignments contrary to programme obligations.
“Consequently, the Comptroller-General of Customs, Bashir Adewale Adeniyi, directed the immediate suspension of the company’s AEO status in accordance with the AEO Guidelines, the WCO SAFE Framework of Standards, and Section 112 of the Nigeria Customs Service Act, 2023.
The NCS reiterated that the AEO Programme is founded on trust, transparency, and continuous compliance.
“While compliant operators will continue to benefit from expedited clearance and reduced inspection, appropriate sanctions will be applied where violations are established.
“The Service remains resolute in safeguarding national revenue, facilitating legitimate trade, and preserving the integrity and global credibility of Nigeria’s AEO framework” the NCS concluded in the report.
Continue Reading

Trending