The Economic and Financial Crimes Commission, EFCC, on Monday, May 20, 2024, presented the first prosecution witness, PW1, Chibueze Chukwuma, a staff of Access Bank Plc, in the trial of Emmanuel Jayeoba and his son, Adewale Jayeoba, before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos.
Jayeoba, his son, alongside their firm, Wales Kingdom Capital Limited, are standing trial on an amended 14-count charge bordering on alleged N5.7billion money laundering fraud.
They were initially arraigned on August 2, 2022, by the Lagos Zonal Command of the EFCC before Justice Nicholas Oweibo, but were later on October 12, 2022 re-arraigned on the amended charges before Justice Aneke.
One of the counts reads, “That you, Adewale Daniel Jayeoba and Emmanuel Adewunmi Jayeoba, between 2019 and 2020, in Lagos, within the jurisdiction of this honorable court, conspired among yourselves to use the aggregate sum of N5,697,029,685.00, which sum you reasonably ought to have known forms part of your unlawful activity, to wit: carrying on banking business without a valid licence, thereby committing an offence contrary to Section 18 (a) of the Money Laundering (Prohibition) (Amendment) Act, 2012 and punishable under Section 15(3) of the same Act.”
They pleaded “not guilty” to the charges when they were read to them. At the resumed sitting on Monday, Chukwuma, who was led in evidence by the prosecuting counsel, C.C. Okezie, told the court that he was the team lead of the regulatory enquiries department, and ensured that the bank responded to enquiries from law enforcement agencies and other regulators.
He further narrated the role played during the investigation of the alleged fraud, including the correspondence between the EFCC and the bank.
“In February 2021, the bank received a letter from the EFCC requesting account opening documents and a statement of account of Wales Kingdom Capital and Daniel Adewale, and we responded to the request by sending the requested documents for the period required by the EFCC and attached the Certificate of Identification,” he said.
Thereafter, the prosecution sought to tender in evidence the said correspondence. There was no objection raised by the defence counsel, Olaniyi George.
The said documents were thus admitted by Justice Aneke as exhibits against them. The case has been adjourned till October 23, 2024 for continuation of trial.
