The Economic and Financial Crimes Commission (EFCC) has announced plans to appeal the ruling of the Federal High Court in Lagos which on Wednesday acquitted former Ekiti State Governor, Ayodele Fayose, of alleged N6.9 billion money laundering charges.
EFCC spokesperson Dele Oyewale, in a statement on Wednesday, confirmed that the anti-corruption agency is dissatisfied with the verdict and has instructed its legal team to initiate the appeal process.
Justice Chukwujekwu Aneke, who delivered the judgment, held that the EFCC failed to establish a prima facie case linking Fayose or his company, Spotless Investment Limited, to the alleged financial crimes.
The judge upheld a no-case submission filed by Fayose’s legal team, discharging and acquitting him on all 11 counts of conspiracy, money laundering and theft.
Mr Oyewale reiterated that Fayose was re-arraigned on July 2, 2019, alongside Spotless Investment Limited, on charges involving the alleged diversion and laundering of public funds amounting to N6.9 billion during his tenure as governor of Ekiti State between 2014 and 2018.
Fayose was first arraigned in 2018 before Justice Mojisola Olatoregun before the case was reassigned to Justice Aneke.
The charges included claims that he received N1.2 billion and $5 million in cash from former minister of state for defence, Musiliu Obanikoro, funds allegedly linked to the office of the former national security adviser, Sambo Dasuki.
The EFCC further alleged that the funds were laundered through companies including De Privateer Ltd. and Still Earth Ltd., in contravention of the money laundering (Prohibition) Act, 2011.
During the proceedings, Fayose’s counsel, Kanu Agabi, argued that the prosecution failed to prove its case or establish any concrete link between the former governor and the alleged offences.
He also noted that key figures mentioned in the allegations, such as Abiodun Agbele, were not charged alongside Fayose, weakening the case.
Following nearly six years of trial, the court ruled in favour of the defence, bringing the high-profile case to a temporary close, pending appeal.
Oyewale reaffirmed the EFCC’s commitment to upholding the rule of law, saying the agency is currently reviewing the judgment and will proceed to challenge it in the Court of Appeal.
