A Federal High Court in Lagos has discharged and acquitted former Ekiti State governor, Ayodele Fayose, of alleged ₦6.9 billion fra¥d and money laundering charges.
In a ruling delivered Tuesday, Justice Chukwujekwu Aneke upheld a no-case submission filed by Fayose’s legal team, stating that the Economic and Financial Crimes Commission (EFCC) failed to establish a prima facie case to warrant the defendant’s further defence.
The EFCC had re-arraigned Fayose and his company, Spotless Investment Limited, on 11 counts bordering on money laundering. The charges stemmed from allegations that Fayose received ₦1.2 billion and $5 million in cash for his 2014 campaign, bypassing legal banking procedures.
He was also accused of laundering and using over ₦1.6 billion to acquire properties through fronts like De Privateer Ltd and Still Earth Ltd.
Arguing the no-case submission on May 19, Fayose’s counsel, Kanu Agabi (SAN), pointed out that Abiodun Agbele, who allegedly facilitated the transactions, was never charged, weakening the EFCC’s claims. “The predicate offences do not hold water,” Agabi argued, urging the court to find no basis for a trial.
Olalekan Ojo, counsel for Spotless Investment, also argued that the EFCC’s evidence lacked credibility. He questioned the testimony of the 13th prosecution witness, Musiliu Obanikoro, who admitted there was no direct link between Fayose and former NSA, Sambo Dasuki.
In response, EFCC prosecutor Rotimi Jacobs opposed the no-case submission, insisting Fayose must explain the suspicious cash dealings and alleged use of proxies to buy properties. “If the money was clean, why not buy the properties in his name?” Jacobs asked.
Despite these arguments, the court ruled in favour of Fayose, discharging him and his company of all charges.
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