BREAKING: Court Frees Fayose, Rules EFCC Failed to Establish Money Laundering Link

The Federal High Court in Lagos has discharged and acquitted former Ekiti State Governor, Ayodele Fayose, of all charges bordering on money laundering and theft involving ₦6.9 billion.

In a landmark judgment delivered on Wednesday, Justice Chukwujekwu Aneke upheld Fayose’s no-case submission, ruling that the Economic and Financial Crimes Commission (EFCC) failed to establish a prima facie case against him that would warrant entering a defence.

“The prosecution has not been able to link the first defendant with the alleged crimes. The court cannot continue a trial where there is no evidence to proceed. The first and second defendants are hereby discharged and acquitted,” the judge held.

The no-case submission, filed by Fayose’s legal team and adopted on July 16, 2024, was argued by renowned Senior Advocate of Nigeria, Chief Kanu Agabi, who maintained that the EFCC’s evidence lacked merit. He pointed out that a key individual, Abiodun Agbele, alleged to have been directly involved in the offence, was never charged alongside Fayose, weakening the prosecution’s claim of conspiracy.

“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 urged the court to declare that “Fayose has no case to answer.”

Fayose was originally arraigned in 2018 before Justice Mojisola Olatoregun, but the EFCC later requested and secured a transfer of the case to Justice Aneke. He and his company, Spotless Investment Limited, were re-arraigned on an 11-count charge related to money laundering and misappropriation of public funds.

The EFCC had accused Fayose of receiving ₦1.2 billion for his 2014 gubernatorial campaign and taking $5 million in cash from then-Minister of State for Defence, Musiliu Obanikoro, allegedly bypassing financial institutions in the process. The commission further claimed he laundered over ₦1.6 billion through proxies and companies such as De Privateer Ltd and Still Earth Ltd.

The court’s decision to free Fayose brings a dramatic end to a high-profile trial that has lasted nearly six years, attracting national attention and stirring debate about the effectiveness and selectivity of anti-corruption prosecutions in Nigeria.

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