officials of the Economic and Financial Crimes Commission
that he personally handed over N1.2bn to a former Minister
of State for Defence, Senator Musiliu Obanikoro, and his
The entire exercise was said to have been captured on a
Closed Circuit Television.
According to the EFCC, the N1.2bn was part of the N4.7bn
paid into the company account of Obanikoro’s sons by the
Office of the National Security Adviser during the build-up
to the Ekiti and Osun states governorship election in 2014.
Otuyalo, who is the Head of Cash-in-Transit Services, told
detectives that his duty was to evacuate excess cash from
bank’s branches and move it to locations where money was
The bank official was quoted to have said, “The
beneficiaries were not available to be paid as I did not see
them and I was later directed by Mr. Premier Oiwoh to
move the money to the airport where I will be given further
“We moved the cash to the airport through the Cash-In-
Transit vendor, Bankers Warehouse Limited. I contacted the
vendor who made the bullion van available for movement.
I personally supervised the loading of the money into the
bullion van and escorted them to the airport.”
Otuyalo said on getting to the airport around 7am, he was
not allowed into the private wing because he and the
security detail did not have a gate pass.
He said a few minutes later, Obanikoro’s son came to the
main gate and asked the security to let the bullion van in.
The bank official further stated, “When Gbolahan got to the
gate, he cleared us and we drove in. My boss, Mr. Premier
Oiwoh, called me on the telephone and confirmed to me
that Obanikoro was the beneficiary of the money.
“I handed my phone over to Gbolahan and he spoke to my
boss. Obanikoro came to meet us at the private wing with
two policemen and some friends. I recognised Obanikoro
very well because he is popular.”
Otuyalo told detectives that due to the large amount of
money involved, it took them several hours to offload the
cash unto the aeroplane.
He explained that it took three aeroplanes to carry all the
Detectives told Punch correspondent that the N1.2bn was
flown to Akure Airport and Obanikoro allegedly handed
over the money to an associate of Ekiti State Governor,
Ayodele Fayose, Mr. Abiodun Agbele, who had since been
detained by the EFCC.