In a court proceeding on Wednesday, November 29, 2023, former Minister of State for Defence, Senator Musiliu Obanikoro, testified before Justice Nnamdi Dimgba of the Federal High Court in Abuja, shedding light on the movement of N1.219 billion in cash to former Ekiti State Governor, Ayodele Fayose, for the gubernatorial election. Fayose is currently facing trial for alleged involvement in N6.9 billion money laundering, along with his firm, Spotless Investment Limited.
Obanikoro attributed the decision to airlift the funds to the failure of the defunct Diamond Bank to disburse substantial sums of money. Responding to questions from prosecution counsel Wahab Shittu, SAN, Obanikoro claimed ignorance about the money’s source, stating that he received information about the funds from the former National Security Adviser, Col Sambo Dasuki (retd).
The former minister recounted a phone conversation with Governor Fayose in 2014, where the latter inquired about a message from the Office of the National Security Adviser (ONSA). Obanikoro explained that he later received information from Dasuki that N2.2 billion had been deposited into the account of Sylvan Mcnamara Ltd.
Obanikoro asserted, “I can’t vouch for the source of the funds. Only the NSA can explain the source of the fund.” He emphasized that he handed over N1.219 million in cash to one Agbele for delivery to Fayose, denying allegations of personal financial gain.
When questioned about Sylvan Mcnamara Ltd, Obanikoro stated that the account was created to address Boko Haram issues in Lagos and was used for disbursing election funds. Due to Diamond Bank’s inability to provide the funds, they opted to airlift the money in two tranches from Lagos.
He detailed the logistics, mentioning the involvement of his security personnel, ADC, and a top aide of Fayose to ensure the secure transfer of the funds. Obanikoro clarified that the funds, totaling N1.219 billion, were part of the N2.2 billion initially received from Diamond Bank.
The former minister concluded by informing the court that Diamond Bank in Ado Ekiti cited a lack of capacity, leading to the decision to airlift the funds. Justice Dimgba adjourned the trial to February 27, 2024, for further proceedings.
