A Federal High Court in Lagos has fixed June 8, 2015 for judgment of the Money Laundering case against former Minister of Aviation, Chief Femi Fani-Kayode.
The trial began in 2008 when Fani-Kayode was accused of laundering N100m while he was the Minister of Culture and Tourism and subsequently Aviation Minister.
The allegedly laundered sum was however reduced to N2.1m on November 17, 2014 after Justice Rita Ofili-Ajumogobia dismissed 38 out of the 40 counts levelled against Fani-Kayode by the EFCC for want of proof.
The Economic and Financial Crimes Commission prosecutor, Mr. Festus Keyamo urged the court to convict Fani-Kayode because he transacted in cash sums above N500,000, which was the threshold stipulated by the Money Laundering (Prohibition) Act.
Keyamo said “In this statement, he admitted that he transacted in cash above N500,000. My Lord, this statement went in without objection by the accused person and the statement was voluntary.
“With the combination of this confessional statement and the statement of the IPO that investigated the allegation, we rely on all of this to submit that we have discharged our burden that monies were received by the accused person in cash and were not done through any financial institution.”
Keyamo argued that the prosecution had discharged its duty once it established that Fani-Kayode transacted in large sums above the Money Laundering threshold, adding that it was left for Fani-Kayode to explain the source of the money.
“Once you cannot explain the source of the large sum of money found on you, you are guilty of money laundering. If the prosecution must show where the money is coming from, then the whole essence of the money laundering law is defeated.
“It is not in all cases that the burden of proof lies on the prosecution; the burden at this point shifts to the accused person.”
Fani-Kayode’s lawyer, Mr. Ifedayo Adedipe (SAN), in his summary argument, maintained that Fani-Kayode made no confession to the EFCC.
He said “My Lord, it is our submission that the accused does not have to prove his innocence; it is the prosecution that must prove its case beyond all reasonable doubts.
“In this particular case, the prosecution has failed to give the evidence of acceptance of N1m; in the entire trial none of the witnesses brought by the prosecution gave evidence of giving the accused cash.”
Adedipe urged the court to dismiss the case because the EFCC has no case.