The Federal High Court in Lagos yesterday heard that a former Minister of Aviation Chief Femi Fani-Kayode allegedly made multiple cash withdrawals of N10 million ahead of the 2015 general elections.
A banker, Mr. Teslim Ajuwon, while testifying in Fani-Kayode’s trial, said the former minister allegedly exceeded the withdrawal limit of N5 million for individuals.
The Economic and Financial Crimes Commission (EFCC) re-arraigned Femi Fani-Kayode and Senator Nenadi Usman for alleged N4.6 billion fraud.
They pleaded not guilty to a 17-count charge of money laundering.
The former ministers were charged along with former chairman of the Association of Local Government of Nigeria (ALGON) and ex-Chairman of Kagarko Local Government Area of Kaduna State Mr. Yusuf Danjuma and a company, Jointrust Dimensions Nigeria Limited.
Ajuwon, a Compliance Officer at Zenith Bank Plc, said only a corporate body could lawfully withdraw N10 million and above.
He said any withdrawal exceeding the threshold attracted a surcharge.
Ajuwon, the second prosecution witness, led in evidence by EFCC lawyer Nnaemeka Omenwa, said Fani-Kayode withdrew N10 million cash no fewer than 24 times between March 19 and 27, 2015.
Ajuwon said Joint Trust Dimensions credited N840 million to Fani-Kayode’s account on three occasions.
Under cross-examination by Usman’s lawyer Chief Ferdinand Orbih (SAN), Ajuwon said he could not tell whether Fani-Kayode personally came to the bank to make the withdrawals.
Fani-Kayode’s lawyer, Mr. Norrison Quakers (SAN), asked Ajuwon if Fani-Kayode was surcharged after making the withdrawals, and the witness said the former minister was surcharged N2, 206,290 after making 14 withdrawals above the limit.
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