Fani-Kayode, Others Acquitted Of N4.6bn Money Crime Charges After 7 Years

Former Minister of Aviation, Femi Fani-Kayode, the former Minister of Finance, Nenadi Usman have been cleared of all charges filed against them, for the misappropriation of N4.6 billion and money laundering by the Federal High Court  in Lagos.

VerseNews Nigeria reports that Fani-Kayode was charged with money laundering alongside Usman, former Chairman of the Association of Local Governments of Nigeria Yusuf Danjuma, and Jointrust Dimensions Nigeria Ltd.

The charges relate to the alleged unlawful retention of over N4.6 billion between January and March 2015 in Lagos. The defendants are accused of retaining proceeds of unlawful acts of stealing and corruption.

Fani-Kayode and one Olubode Oke, who is said to be at large, are also alleged to have made cash payments of about N30 million to one Paste Poster Co (PPC) in excess of amounts allowed by law without going through a financial institution.

The charges contravene the provisions of sections 15 (3) (4), 16 (2) (b), and 16 (5) of the Money Laundering (Prohibition) (Amendment) Act, 2012.

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The Economic and Financial Crimes Commission (EFCC) initially brought a 17-count charge against the defendants before Justice Mohammed Aikawa. The defendants pleaded not guilty and were granted bail.

The case began before Justice Aikawa, but the trial judge was transferred out of the Lagos division, and the case was assigned to a new judge, Justice Daniel Osaigor. The defendants had to start the case from the beginning. Witnesses were being led in evidence before the transfer.

Expressing gratitude to God, APC campaign spokesperson via his verified Twitter handle wrote; “Yesterday, the Court of Appeal quashed the charges filed against me, the former Minister of Finance Nenadi Usman, and others at the Federal High Court in Lagos by the EFCC for the misappropriation of 4.6 billion naira and money laundering.”