The father, Emmanuel Jayeoba and his son Daniel, were arraigned on a two-count charge of carrying out banking business without appropriate licence
By Jude-Ken Ojinnaka
A man Adewale Daniel Jayeoba (son), his father Emmanuel Jayeoba and their firm Wales Kingdom Capital Limited were on Wednesday re-arraigned at the Federal High Court in Lagos before Justice Chukwujekwu Aneke by the Economic And Financial Crimes Commission (EFCC) for alleged N5.6 billion money laundering.
The defendants were re-arraigned on a 14-count amended charge of alleged money laundering to the tune of N5, 697, 029, 685 billion.
After listening to the charge preferred against them, they pleaded ‘not guilty’ .
They were first arraigned on August 2, 2022 before a vacation judge, Justice Nicholas Oweibo on a two-count charge of carrying out banking business without appropriate licence and they had pleaded ‘not guilty’ and were granted bail.
The EFCC later amended the charge to 14 counts and the matter was assigned to Justice Aneke after the court vacation.
They were re-arraigned on Wednesday and they maintained their plea of ‘not guilty’
After the plea of the defendants, the
Prosecution counsel Chinenye Okezie said in view of the defendants plea, he was asking the court for a trial date and also prayed that the defendants be remanded in correctional service custody.
But defence counsel I.A. Raji informed the court that the defendants were granted bail by Justice Nicholas Oweibo but were unable to perfect the bail terms.
Raji prayed the court for a short date for the hearing of a bail variation application.
Justice Aneke adjourned till October 17, 2022 and December 6, 2022 for hearing of the bail variation application and trial respectively, and ordered that the defendants be remanded in correctional service custody.
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 amongst yourselves to use the aggregate sum of N5.697,029,685 which sum you reasonably ought to have known forms part of your unlawful activity to wit: carrying on banking business without valid license and you thereby committed 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.”
