A Federal High Court in Lagos has discharged and acquitted former Ekiti State Governor, Ayodele Fayose, of all charges bordering on alleged ₦1.6 billion money laundering and theft.
Justice Chukwujekwu Aneke on Wednesday upheld a no-case submission filed by Fayose’s legal team, ruling that the Economic and Financial Crimes Commission (EFCC) failed to establish a prima facie case against him.
“The prosecution was unable to link the defendant to the crime. No sufficient evidence was presented to justify calling the defendant to enter a defence,” Justice Aneke held.
Fayose and his company, Spotless Investment Limited, were facing an 11-count charge including criminal breach of trust, receiving illicit campaign funds, and laundering various sums of money through proxies and firms.
According to the EFCC, Fayose allegedly received ₦1.2 billion from a former Minister of State for Defence, Musiliu Obanikoro, to finance his 2014 gubernatorial campaign, and accepted $5 million in cash, bypassing due financial procedures.
The agency also alleged that Fayose used over ₦1.6 billion to acquire properties through companies such as De Privateer Ltd. and Still Earth Ltd., acts said to contravene Nigeria’s Money Laundering (Prohibition) Act, 2011.
The case, which began in 2018 before Justice Mojisola Olatoregun, was later transferred to Justice Aneke.
During the final hearing on May 20, 2025, Fayose’s lead counsel, Chief Kanu Agabi, SAN, urged the court to dismiss the case, arguing that the prosecution failed to prove essential elements of the alleged crimes and did not charge key co-conspirators, weakening the legal foundation of the trial.
Agabi said: “The predicate offences on which these charges are based—criminal breach of trust and conspiracy—do not hold water. No co-conspirator was charged alongside the defendant. The court should find that Fayose has no case to answer.”
Agreeing with the defence, Justice Aneke ruled in favour of the no-case submission, effectively ending the years-long trial.
Legal analysts say the judgment could mark a major blow to the EFCC’s high-profile prosecution record, especially in politically sensitive cases.
