N4bn Campaign Funds: Falae’s Firm’s Account Frozen, Fani-Kayode Detained

Olu Falae
The Economic and Financial Crimes Commission has frozen the bank account of a company belonging to a former Secretary to the Government of the Federation, Chief Olu Falae, The PUNCH has learnt.

It was gathered that the account with the United Bank for Africa titled Marecco Nigeria Limited with number 1000627022, was frozen as part of investigations into the N4bn disbursed by the Goodluck Jonathan Campaign Organisation during the build-up to the 2015 presidential election.

This is just as the EFCC detained a former Minister of Aviation, Chief Femi Fani-Kayode, on Monday for receiving N840m from the campaign funds. The ex-minister, who arrived at the EFCC headquarters  at 9.45am was still being quizzed as of 8.40pm.

Both Falae and Fani-Kayode were accused of receiving N940m from the Director of Finance of the campaign organisation, Senator Nenadi Usman, during the build-up to the election.