A Federal High Court in Lagos Thursday adjourned until July 1 and 2, the trial of Clement Faboyede and Modupe Adetokunbo, chieftains of the Peoples Democratic Party (PDP), who are facing alleged money laundering charges.
Faboyede, the Ondo state PDP chairman, and Adetokunbo, Director-General of the party’s 2015 campaign organisation in the state, are being prosecuted by the Economic and Financial Crimes Commission (EFCC) over alleged N500 million money laundering.
The duo, who had earlier pleaded not guilty to the charges and were granted bail in the sum of N50 million each, had been arraigned by the EFCC on June 29, 2018 on a three-count charge bordering on money laundering.
The case, which was slated for continuation of trial Thursday, was further adjourned until July 1 and July 2 for convenience.
On the next adjourned date, trial-within-trial will continue.
The defendants were said to have committed the offences on March 27, 2015, when they were alleged to have conspired to accepted cash payment of the sum of N500 million.
The sum was said to have exceeded the amount allowed by law, without going through any financial institution.
According to the prosecution, the offences contravened the provisions of Sections 16, 16 (2) and 18 of the Money Laundering (prohibition) Act, 2011 (as amended by Act No.1 of 2012). (NAN)