How Agbele bought N1.3bn houses for Ayodele Fayose – EFCC reveals

The Economic and Financial Crimes Commission (EFCC) has revealed how political associate Abiodun Agbele has found himself embroiled in a corruption case leveled against Ekiti State Governor Ayodele Fayose.

According to Punch, Agbele is said to have received N1.219 billion from former State Defence Minister Musiliu Obainkoro in the lead-up to the Ekiti State governorship election in June 2014.

The EFCC has alleged that a portion of the funds was used towards the purchase of houses in Lagos and Abuja, properties which have since been seized by the anti-graft agency.



Fayose has been accused of purchasing the properties through Agbele in order to mask any corrupt dealings that may be fished out.

An investigator at the EFCC has revealed that the two houses in Abuja were procured through bank loans from Skye Bank and Zenith Bank. However, a probe into the purchases has revealed that stolen funds were used to offset the loans, Sahara Reporters has confirmed.

"From the Dasuki funds, they had about N300m stashed in one account. However, when they were going to buy the N270m property located on Yedseram Street, they did not use the N300m from the stolen funds. Rather, they obtained a loan of N120m in the name of Spotless Hotel from Zenith Bank to deposit for the house.

"They then took about N150m out of the Dasuki money to pay the balance on the house and then used the same Dasuki funds to offset the loan. They went through all this stress to cover their tracks and make it look as if it was a bank loan they used in buying the property," the detective stated.

The anti-graft agency has since linked approximately N60 million to an account belonging to Agbele, which has been domiciled in Diamond Bank, with funds having been received from Ekiti State local governments under the auspice of Millennium Development Goals.