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MONEY LAUNDERING: Court Adjourns Fani-Kayode's Trial

Source: pointblanknews.com
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A Federal High Court in Lagos today fixed March 6 for the re-arraignment of Femi Fani-Kayode who is facing charges of money laundering.

Femi Fani-Kayode
Justice Ofili-Ajumogobia, the third judge to hear the case in the last five years, on February 10 upheld the submission of the Prosecuting Counsel Festus Keyamo, who sought court's permission to re-arraign Fani-Kayode on a fresh 40-count charge.

The case was initially adjourned to March 5, but on Wednesday the court adjourned the matter to March 6 at the instance of the prosecution.

Fani-Kayode is facing an amended 40 count charge of laundering about N100m brought against him by the Economic and Financial Crimes Commission (EFCC).

The former minister was first arraigned in December 2008 before Justice Ramat Mohammed on a 47-count charge.

He pleaded not guilty and was granted bail in the sum of N200m.

Fani-Kayode was again re-arraigned before Justice Binta Murtala-Nyako, after the transfer of Mohammed.

By now, when Justice Ofili-Ajumogobia hears the case, the charge has been amended to 40-counts as the EFCC had dropped seven.

In the charge, the former minister is alleged to have conducted transactions with funds exceeding N500,000 without going through a financial institution.

He is also alleged to have accepted cash payments of about N100m during the period when he held sway as minister of aviation and minister of culture and tourism.