July 23, 2016

EFCC releases Omisore, to Charge Him for N4.7bn Fraud

The Economic and Financial Crimes Commission has released the former Deputy Governor of Osun State, Senator Iyiola Omisore, after 19 days in detention. He left custody on Friday.

It was learnt that Omisore was released on bail by the commission after meeting his bail conditions.

The former deputy governor, who was declared wanted by the EFCC in May, was arrested on July 3, 2016 after N1.310bn was traced to the accounts of five companies belonging to him.

The money was said to be part of the N4.7bn allegedly disbursed by a former Minister of State for Defence, Senator Musiliu Obanikoro and his two sons, Gbolahan and Babajide.

The N4.7bn was said to have emanated from the account of the Office of the National Security Adviser in 2014 and then transferred to the Diamond Bank account of Sylvan McNamara, a company in which Obanikoro’s sons are the signatories to its bank account.

Omisore allegedly got the funds in four tranches from Sylvan McNamara between July and August 2014, a few weeks before the Osun State governorship election which he lost.

A document detailing the transaction showed that the money was paid into accounts of three companies belonging to Omisore.

A detective at the anti-graft agency explained, “On July 9, 2014, N150m was paid into the bank account of Sawanara at First Bank. On August 1, 2014, N300m was paid into Sawanara Limited.

“On August 8, 2014, about N160m was paid into the bank account of Fimex Gilt Limited domiciled at UBA. On the day of the election, August 9, 2014, N350m was paid into the First Bank account of Metropolitan Consortium.”

Meanwhile, it was learnt that the anti-graft agency will soon charge Omisore alongside Mr. Abiodun Agbele, an aide to Governor Ayodele Fayose of Ekiti State.

Agbele is alleged to have received N1.219bn from Obanikoro on behalf of Fayose during the build-up to the June 21, 2014 governorship election in Ekiti State.

A source at the EFCC said, “We have already started putting the charges together because we have virtually completed investigations and we are lining up witnesses against them. They will be charged for fraud very soon.”


Ay360 said...


samaila sulaiman said...

Nice work EFCC

Kay Heavy said...

We can't wait to see dem in kuje!

eniola lawal said...


Hassan Aderemi said...

The more you look, the less you see but all we are saying is, the looters should refund the loots, prosecuted & possibly get jail terms

Jeff Kingsley Jr said...


olutoscene1 said...

Welldone Magu

#Olu,can you see?

SPACO said...

okooo, we are watching.

inumidun said...

He should give back wuh he tuk inappropriately..