Justice Nnamdi Dimgba of the Federal High Court, Abuja, has struck out a 24-count amended charge of alleged N1.219 billion money laundering filed by the Economic and Financial Crimes Commission (EFCC) against Abiodun Agbele and three others.
Agbele, a close political ally of former Ekiti State Governor Ayodele Fayose, faced trial for nearly eight years. Chief Mike Ozekhome SAN, representing Agbele, argued a no-case submission, leading Justice Dimgba to rule that Agbele had no case to answer due to the EFCC’s failure to establish the necessary elements of the alleged offenses.
The EFCC had accused Agbele and others of accepting N1.219 billion in cash from Senator Musiliu Obanikoro on behalf of Fayose without using a financial institution, in violation of Section 1(a) of the Money Laundering (Prohibition) Act. Agbele was also accused of aiding a company, De Privateer Ltd, in taking possession of N200 million, part of the N1.219 billion, contrary to Section 18(a) of the Money Laundering (Prohibition) Act.
In his ruling, Justice Dimgba found no evidence of the essential ingredients to warrant a full trial for Agbele. Initially, Agbele and three others were arraigned on eleven counts, pleading not guilty. The EFCC later amended the charges to 24 counts, to which the defendants also pleaded not guilty. Despite calling 16 witnesses, the EFCC could not substantiate its case.
Justice Dimgba noted that the case appeared to involve merely cash-in-transit between bank officials. He found no evidence indicating that Agbele knew the cash was tainted with illegality, despite being present when it was moved in Akure, Ondo State. None of the prosecution witnesses knew the source of the funds. Senator Musiliu Obanikoro, who testified for the prosecution, stated that only the then National Security Adviser, Col. Sambo Dasuki, and Fayose could speak about the source of the cash.
The court held that the prosecution failed to prove that Agbele knew or ought to have known that the funds were tainted. Justice Dimgba emphasized that merely possessing large sums of cash, without more, does not sustain the charges. There must be evidence that the cash was proceeds of unlawful activity and that Agbele and Fayose knew and benefited from such proceeds.
Consequently, Agbele was discharged from the 23 counts against him. However, the second defendant, a company named Silver McNamara, was called to enter its defense on the remaining count, as it did not file a no-case submission.
