Former governor of Ekiti State, Ayodele Fayose has been discharged and acquitted of charges of money laundering and stealing to the tune of N6.9 Billion.
Justice Chukwujekwu Aneke of the Federal High Court, Ikoyi ruled on the no-case submission filed by Chief Kanu Agabi SAN, the defendant’s counsel, and held that the prosecution failed to establish a prima facie case against him.
EFCC, Fayose, money laundering case
The defendants; Fayose and Spotless Investment Limited, were charged to court by the Economic and Financial Crimes Commission, EFCC, on 11 counts money laundering allegations.
The defendants were initially arraigned on October 22, 2018 before Justice Mojisola Olatoregun.
Justice Aneke thereafter upheld the no-case submission, discharged and acquitted Fayose of the money laudering charge.
At the resumed sitting on Wednesday, Justice Aneke said the prosecution failed to establish a prima facie case against the defendant and therefore, discharged and acquitted him of the money laundering charge.
At the last adjourned sitting on May 19, 2025, counsel to Fayose, Chief Kanu Agabi SAN, had argued the no-case submission dated May 16, 2025 and further submitted that the prosecution had failed to establish a prima facie case against his client.
Chief Agabi had also told the court that Abiodun Agbele, whom he described as a co-conspirator in the alleged transaction, was not charged alongside Fayose.
“The predicate offences on which these charges are based do not hold water.
“Criminal breach of trust and conspiracy are distinct charges, and no co-conspirator was docked with the defendant, “ the defence counsel had argued.
Counsel to the second defendant, Spotless Investment Limited, Olalekan Ojo, SAN, also adopted the no-case submission.
In response, the EFCC Prosecution Counsel, Rotimi Jacobs SAN, had urged the court to dismiss the no-case submissions.
Jacobs had also cited a counter-affidavit and written address dated May 8, 2025, and further submitted that the defendants failed to explain the suspicious financial transactions.
Jacobs had also queried why Fayose failed to use his personal bank account for the transactions “if they were clean.”
He had also drawn the attention of the court to the fact that a prosecution witness, Abubakar Madaki, an investigator with the EFCC, had in his testimony, stated that Fayose used associates to purchase properties both in Nigeria and abroad.
According to him, “These are associates who later denied ownership of the properties, even though Fayose had claimed them in his statement.”
The prosecution counsel argued further, Musiliu Obanikoro’s testimony that Fayose personally requested the funds in cash and introduced Agbele to handle the delivery required a defence from the accused.
However, Jacobs, has noted that efforts are being made to get the ruling and prepare for appeal.
