Former NSA Paid Fayose N1.2bn in Cash to Disguise Source — Witness

In a revealing testimony at the Federal High Court in Lagos, former Economic and Financial Crimes Commission (EFCC) investigator, Abubakar Madaki, disclosed that former National Security Adviser, Col. Sambo Dasuki, made a cash payment of N1.2 billion to ex-Governor of Ekiti State, Ayodele Fayose, to obscure the money’s origins.

The payment, aimed at disguising the source and avoiding detection, was linked to Fayose’s alleged involvement in a N3.3 billion fraud case. This testimony was part of ongoing proceedings before Justice Chukwujekwu Aneke.

Earlier, former Minister of State for Defence, Senator Musiliu Obanikoro, testified that Dasuki instructed him to transfer N1.2 billion from an account used as Boko Haram Special Intervention Account to Fayose. This money was initially transferred from the NSA’s imprest account.

Madaki revealed that investigations contradicted Fayose’s claim that the money was a campaign donation from the Peoples Democratic Party (PDP). Instead, it was discovered to be allocated for the purchase of security equipment by the office of the National Security Adviser.

Fayose, along with his company Spotless Investment Limited, faces an 11-count charge including criminal breach of trust and theft of public funds. Both Fayose and his co-defendant, Abiodun Agbele, who faces separate money laundering charges, allegedly took possession of N1.219 billion on June 17, 2014, to finance Fayose’s governorship campaign.

During cross-examination by defense counsel Olalekan Ojo (SAN), Madaki admitted that Fayose did not personally conduct any relevant financial transactions and that his conclusions were based on investigative findings. The court has adjourned the trial until July 19 for continuation.