Of the cash, Obanikoro planned to immediately refund about N100million to regain his freedom and look for the balance,The ex-minister is said to be desperately seeking how to refund the money.
A top source, who spoke with the Nation correspondent, said:
“The ex-Minister is yet to pay back any money out of the N785million in question. Although he promised initial remittance of N100million, he is yet to do so. “Instead, he said he will make a commitment to the EFCC to refund the cash. He begged for more time to enable him to look for the refund.“We are however expecting him to make reasonable refund; we cannot accept just an undertaking from him. He needs to live up to his promise.“The refusal to refund any amount has been a major issue why his bail is being delayed.”The EFCC had discovered that Sylvan Mcnamara Limited, allegedly owned by Obanikoro and his sons, was used to launder the N4.745billion.
Obanikoro told Economic and Financial Crimes Commission (EFCC) detectives that N3.880billion was given to Governor Ayodele Fayose and Sen. Iyiola Omisore out of the said cash.
He also said he handed over $5.377m (N60m then) cash to Fayose at Spotless Hotel, Ado-Ekiti in the presence of the former Peoples Democratic Party (PDP) Secretary Tope Aluko and other party stalwarts.
He said the balance of N785million was expended on alleged anti-Boko Haram campaign in Lagos and the Southwest by Sylvan Mcnamara.
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