A Federal High Court in Lagos has acquitted former Ekiti State Governor, Ayodele Fayose, of all allegations related to money laundering and theft involving ₦6.9 billion.
In a ruling delivered on Wednesday, Justice Chukwujekwu Aneke upheld a no-case submission filed by Fayose’s legal team, concluding that the Economic and Financial Crimes Commission failed to present sufficient evidence linking the former governor to the alleged financial crimes.
“The prosecution was unable to establish a prima facie case against the defendant that would necessitate entering a defence,” Justice Aneke ruled.
Fayose, who was initially arraigned in 2018 before Justice Mojisola Olatoregun, had faced a re-arraignment on 11 counts alongside his company, Spotless Investment Limited, after the case was reassigned to Justice Aneke.
The EFCC accused the former governor of receiving ₦1.2 billion in 2014 to fund his governorship campaign, as well as collecting $5 million in cash from then Minister of State for Defence, Musiliu Obanikoro, without routing the money through any financial institution.
Additional allegations included laundering over ₦1.6 billion via entities such as De Privateer Ltd and Still Earth Ltd—companies reportedly used to acquire properties on his behalf.
However, Fayose’s counsel, Chief Kanu Agabi (SAN), argued that the case was built on weak foundations. He noted that a key figure in the case, Abiodun Agbele, who allegedly coordinated some of the financial transactions, was not charged alongside Fayose.
“With all due respect, the predicate offences do not stand. The charges fail in law because criminal breach of trust and conspiracy require more than allegations—they need collaborators, and none were charged,” Agabi stated in court.
Agreeing with the defence, the judge struck out the case and discharged the defendant.
The alleged offences were said to have been committed while Fayose was in office and involved funds linked to the Office of the National Security Adviser.
This judgment marks the end of a legal battle that began in 2018 and has seen multiple court proceedings and legal submissions.
