The Federal High Court in Lagos has discharged former Ekiti State Governor, Ayodele Fayose, of money laundering and theft charges totalling N6.9 billion.
Justice Chukwujekwu Aneke delivered the ruling on Wednesday, upholding Fayose’s no-case submission against the charges filed by the Economic and Financial Crimes Commission (EFCC).
The judge held that the EFCC failed to establish a prima facie case linking the former governor to the alleged offences and therefore there was no basis for him to enter a defence.
Fayose and his company, Spotless Investment Limited, were re-arraigned in 2019 on an 11-count charge bordering on conspiracy, stealing and money laundering.
The charges stemmed from alleged financial misconduct during his second term in office as Ekiti governor (2014–2018).
Among the allegations was that Fayose received N1.2 billion for his 2014 gubernatorial campaign and another $5 million in cash from former minister of state for defence, Musiliu Obanikoro.
The funds were allegedly linked to the office of the former national security adviser, Sambo Dasuki.
The EFCC also accused Fayose of using fronts and companies such as De Privateer Ltd. and Still Earth Ltd. to launder and retain over N1.6 billion in violation of the money laundering (Prohibition) Act, 2011.
Fayose was first arraigned in 2018 before Justice Mojisola Olatoregun, but the case was later transferred to Justice Aneke.
Delivering the ruling, Justice Aneke said the prosecution could not produce sufficient evidence tying the former governor to the alleged crimes, nor prove the involvement of his company in the laundering activities.
Fayose’s counsel, Kanu Agabi, had argued during the adoption of the no-case submission on July 16, 2024, that the EFCC failed to prove its case beyond mere allegations.
Agabi also pointed out that key individuals like Abiodun Agbele, who was alleged to have been central to the transactions, were not jointly tried, further weakening the case.
“The predicate offences on which these charges are based do not hold water,” Agabi said, urging the court to dismiss the matter.
The EFCC, represented by Rotimi Jacobs, had opposed the no-case submission and urged the court to allow the trial continue, insisting that the evidence presented was sufficient.
But the court ruled in favour of the defence, bringing an end to the trial that had lasted nearly six years.
The EFCC is yet to comment on whether it will appeal the judgment.
