Alleged money laundering: Surety Withdraws From Fani-Kayode’s Trial

One of the two persons who stood as surety for the bail granted by the Federal High Court in Lagos to the media director of President Goodluck Jonathan 2015 presidential campaign organisation, Femi Fani-Kayode, has applied to the court to withdraw his suretiship.

The surety, Wale Ajisebutu, in an application currently pending before the trial judge, Justice Rita Ofili-Ajumogobia, based his action on the ground that he urgently need to make use of the Certificate of Occupancy (Cofo) he deposited with the court to secure Fani-Kayode’s bail after his arraignment for the money laundering crime.

Fani-Kayode is standing trial before Justice Rita Ofili-Ajumogobia on a two count charge of laundering the sum of N2.1 million, while he was serving in the Obasanjo’s administration as minister of Aviation and minister of Culture and Tourism.

He was specifically accused by the Economic and Financial Crimes Commission (EFCC) of conducting financial transaction exceeding N500,000, which was not done through a financial institution by accepting cash payment of various sum which was further carried in cash to First City Monument Bank Plc (FCMB) through some of his associates.

He pleaded not guilty to the charge.

However hearing of the application, which was initially fixed for Tuesday could not go on because of a letter written to the court by the defence asking for another date.

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