The Federal High Court in Lagos has acquitted former Ekiti State Governor, Ayodele Fayose, of money laundering and theft charges involving N6.9 billion.
Justice Chukwujekwu Aneke upheld a no-case submission filed by Fayose, ruling that the Economic and Financial Crimes Commission (EFCC) failed to establish a prima facie case or provide sufficient evidence linking him to the alleged crime, thereby eliminating the need for him to open his defence.
Fayose was initially arraigned in 2018 before Justice Mojisola Olatoregun, but the case was later transferred to Justice Aneke at the request of the EFCC.
The anti-graft agency had accused Fayose of receiving ₦1.2bn for his 2014 governorship campaign and collecting $5m in cash from a former Minister of State for Defence, Musiliu Obanikoro, without going through any financial institution.
He was also accused of laundering several sums of money, including over N1.6 billion, allegedly used to purchase properties through companies like De Privateer Ltd and Still Earth Ltd.
Fayose, along with his company, Spotless Investment Ltd, was re-arraigned before Justice Aneke on 11 counts related to money laundering and theft.
The alleged offences were said to have occurred during Fayose’s tenure as governor and involved funds reportedly traced to the Office of the National Security Adviser.
At Wednesday’s hearing, Fayose’s counsel, Chief Kanu Agabi (SAN), argued that the EFCC failed to substantiate any of the allegations against his client.
He also pointed out that Abiodun Agbele, who was allegedly involved in the transactions, was not charged alongside Fayose.
“With due respect, the predicate offences on which these charges are based do not hold water. Criminal breach of trust and conspiracy are distinct, and no co-conspirator was charged alongside the defendant,” Agabi submitted.
The court agreed and discharged the former governor.
