Former Minister of State for Defence, Musiliu Obanikoro, has informed a Federal High Court, Abuja how the inability of a defunct commercial bank (Diamond Bank) to handle huge amount of money prompted airlifting of about N1.219 billion cash to erstwhile governor, Ayodele Fayose, for Ekiti State gubernatorial polls.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Fayose and his firm, Spotless Investment Limited, for alleged N6.9 billion money laundering.

In his testimony before Justice Nnamdi Dimgba, Obanikoro explained how the huge cash was airlifted from Lagos in two planes.

When lawyer to the anti-graft agency, Wahab Shittu, asked him to shed light on the source of the said N1.219 billion, the ex-minister declined.

Obanikoro added that he got the information from one-time National Security Adviser (NSA), Col. Sambo Dasuki (rtd), stating that he was the one that told him that the lump sum had been paid into the account of Sylvan Mcnamara Ltd.

Asked on his relationship with Sylvan Mcnamara, Obanikoro said the account was created to deal with the Boko Haram situation in Lagos.

He added that the bombing in Apapa was played down because of the city’s commercial status.


His words: “I called Fayose to tell him that the money is in the account.

“Diamond (Bank) in Ado Ekiti said it lacked the capacity.

“We airlifted the funds from Lagos in two tranches because the aircraft could not accommodate them. We used two aircraft and I was in one of the aircraft.

“I was asked to liaise with Agbele and I instructed my military orderly to accompany the funds to the bank.

“On arrival, I met Agbele and the bank managers. I moved to Ado-Ekiti, while my orderly moved to the bank.

“The election was for Ekiti polls, and Fayose was our candidate.”

Case has been adjourned till February 27, 2024.



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