The Economic and Financial Crimes Commission last week obtained an interim order from the Lagos State Magistrate Court, Ikeja District, to remand the Chairman of the Peoples Democratic Party Oyo State Chapter, Yinka Taiwo in its custody for the next 30 days.
The detention order will enable operatives of the Commission progress with investigations and prevent any interference in the alleged illegal disbursement of monies running into billions of Naira belonging to the Federal Government of Nigeria through some banks to politicians in the eve of the last general elections.
A source in the commission said, "acting on intelligence reports received in 2015, the PDP Chairman Yinka Taiwo together with one Senator Ayo Ademola Adeseun and Oloye Jumoke Akinjide, a former Minister of State Federal Capital Territory in Goodluck Jonathan's government, fraudulently received the sum of N650,000,000:00 (six hundred and fifty million Naira) which they converted to their personal use and the use of others".
The money according to our source was routed through a new generation commercial bank and disbursed to some politicians for the purpose of 'facilitating' the Presidential elections. However, the third suspect Oloye Jumoke Akinjide is said to be at large, while EFCC is going on with its investigations.