The Federal High Court in Lagos has cleared former Ekiti State Governor, Ayodele Fayose, of all charges in his ₦6.9 billion money laundering case.
Justice Chukwujekwu Aneke, who delivered the ruling on Wednesday, July 16, upheld Fayose’s no-case submission, stating that the Economic and Financial Crimes Commission (EFCC) failed to link him to the alleged crimes or establish a prima facie case.
Fayose had been on trial since 2018, first before Justice Mojisola Olatoregun, and later transferred to Justice Aneke.
The charges alleged he collected ₦1.2 billion for his 2014 election campaign and received $5 million in cash from Musiliu Obanikoro, bypassing official financial channels.
The EFCC also accused Fayose of laundering more than ₦1.6 billion through third-party companies such as De Privateer Ltd and Still Earth Ltd.
He and his company, Spotless Investment Limited, were facing an 11-count charge bordering on money laundering and theft.
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On May 20, arguments on the no-case submission were heard from Fayose’s counsel, Chief Kanu Agabi (SAN), Olalekan Ojo (SAN) for Spotless Investment, and Rotimi Jacobs (SAN) for the EFCC.
Chief Agabi argued that the EFCC failed to show a legal foundation for the charges.
“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 told the court.
He also highlighted that Abiodun Agbele, allegedly a key figure in the offences, was not tried jointly with Fayose, further weakening the case.
Agabi then urged the court to dismiss the charges, saying, “Fayose has no case to answer.”
Justice Aneke agreed, discharging the former governor and his company of all allegations.