N840m Campaign Fund: EFCC Grants Fani-Kayode Administrative Bail

Femi Fani-KayodeThe Director, Media and Publicity of the Peoples Democratic Party Presidential Campaign Organization, PDPPCO, Femi Fani-Kayode, has been granted administrative bail by the Economic and Financial Crimes Commission (EFCC).
He got bail following his questioning on Monday over the N2.5billion illegally withdrawn from the Central Bank of Nigeria (CBN) and paid into the accounts of six chieftains of the Peoples Democratic Party (PDP) and the Goodluck Support Group (GSG).
Mr. Fani-Kayode got about N840 million from the slush funds allegedly used for the 2015 presidential campaign.
He denied any wrongdoing, saying the cash went into the campaign and he accounted for it all.
The former Minister of Aviation, who arrived at the EFCC headquarters in Abuja at about 9.30am in company of some aides, was taken into custody for questioning at the Operation Unit in the Tunde Idiagbon wing of the commission.
A source, who spoke in confidence, said Fani-Kayode gave information on his antecedents and how he came about the N840million.
“After the preliminary interaction with the suspect, he was given an administrative bail. But he is yet to fulfill the required conditions”, said the source.
Responding to a question, the source added: “I think Fani-Kayode might be transferred subsequently to Lagos to join his colleagues who have been interrogated by our team.
“He was granted an administrative bail but he has not been able to meet the conditions. We are hopeful that he will get the required sureties”.
A breakdown of the N2.5 billion shows that Fani-Kayode got N840million; Goodluck Support Group – N320million; Achike Udenwa and Viola Onwuliri – N350million; Nenadi Usman – N140million; Olu Falae – N100m; Okey Ezenwa – N100million and Goodluck Support Group – N320 million.
Of the six people implicated in the scandal, three former public office holders have been questioned. They are Mrs Usman, a former Minister of Finance; Udenwa, a former governor, and Fani-Kayode, a former Aviation Minister.
EFCC detectives allegedly found that the N840million was paid in three tranches into Fani-Kayode’s account.
A source said: “The first tranche of payment involving N350million hit the account on February 19, 2015. Another N250milion was also paid into the account on February19, 2015 while N240million was similarly credited to the account a month later; precisely, March 19, 2015.
“The balance on this account as at 31st December, 2015 was N189, 402.72”.
Fani-Kayode’s account remains frozen by the EFCC.