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Court Adjourns Ex-Ekiti Gov, Fayose’s Trial till May 18

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Justice C.J. Aneke of the Federal High Court sitting in Ikoyi, Lagos, on March 6, 2020, adjourned the fraud trial of a former Governor of Ekiti State, Ayodele Fayose until May 18, 2020 for further hearing.

Fayose is standing trial alongside his company, Spotless Investment Limited, on an 11-count charge bordering on fraud and money laundering to the tune of N2.2bn.

At today’s sitting, a prosecution witness, Olugboyega Falaye, a former employee of Skye Bank Plc (now Polaris Bank Plc), told the court how the bank had sold a property on 44, Plot 1214, Osun Crescent, Maitama, Abuja for N200m sometime in 2016.

Falaye, who worked in the Real Estate Department of the bank, told the court that the property in question was put up for sale amongst other properties by the bank, after the approval granted by the Board as well as the Central Bank of Nigeria.

Falaye further said that the list of the properties to be sold was given to a property agent.

He said: “Thereafter, Skye Bank got a contact with a letter from Philtech Properties Limited in respect of the property in question.

“Philtech Properties Limited was represented by one Mrs. Titilayo and she made an offer for the property for the sum of N200m.

“Skye Bank countered for N300m, but we later agreed to sell the property for N200m.

“We came up with all necessary documents for the transaction and the property was sold out.”

Falaye also told the court that the documents for the transaction with some attachments were submitted to the EFCC.

“The attachments are ‘letter of offer’ from Skye Bank to Signature Integrated Limited(the principal to Philtech Properties Limited); letter from Philtech in response to Skye Bank’s letter making a counter-offer of N200m to Skye bank; an email to confirm the office address of Philtech and the list of assets that was approved for sale by Skye bank,” the witness said.

Under-cross examination by counsel to the defendants, Ola Olanipekun, SAN and Olalekan Ojo, SAN, Falaye admitted that Skye Bank issued receipts of payment to Signature Integrated Limited.

Falaye, however, told the court that he was not aware of any transaction between Still Earth and Signature Integrated.

The witness, during further cross-examination, told the court that valuation of the property was carried out before the sale.

“There was nothing unusual about the transaction because the transaction went through the normal process,” he said.

Falaye, however, told the court that he did not know the individual who bought the property.

The matter has been adjourned until May 18, 19 and 20, 2020 for continuation of trial.

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