Court Clears Fayose Of Money Laundering Charges, Cites Lack Of Evidence From EFCC

The Federal High Court in Lagos has cleared former Ekiti State Governor, Ayodele Fayose, of all charges related to money laundering and theft totaling ₦6.9 billion.

Justice Chukwujekwu Aneke ruled in Fayose’s favor after reviewing his no-case submission, which challenged the case brought against him by the Economic and Financial Crimes Commission (EFCC).

The judge said the EFCC failed to present enough evidence directly linking Fayose to the alleged crimes, and therefore, there was no solid basis to continue the trial.

On May 20, the court had postponed its decision after listening to arguments from Fayose’s lawyer, Chief Kanu Agabi (SAN); Olalekan Ojo (SAN) for Spotless Investment Limited (the second defendant); and EFCC’s counsel, Rotimi Jacobs (SAN).

Fayose was first arraigned in 2018 before Justice Mojisola Olatoregun, but the EFCC later had the case reassigned to Justice Aneke.

He and his company, Spotless Investment Ltd., were re-arraigned on 11 charges related to alleged money laundering and theft.

The EFCC had accused Fayose of receiving ₦1.2 billion for his 2014 governorship campaign and collecting $5 million in cash from former minister Musiliu Obanikoro, without going through proper financial channels.

They also claimed he used over ₦1.6 billion to purchase properties using companies like De Privateer Ltd and Still Earth Ltd as fronts.

In his defence, Chief Agabi argued that the EFCC failed to build a convincing case.

Agabi pointed out that one of the key individuals allegedly involved, Abiodun Agbele, was not charged alongside Fayose, which weakened the case further.

He told the court that the charges lacked a solid foundation, and offences like conspiracy and criminal breach of trust couldn’t stand on their own without co-conspirators being charged.

Agabi urged the court to dismiss the case, saying Fayose had no case to answer, a position the court ultimately agreed with.

KanyiDaily recalls that in 2018, Ayodele Fayose voluntarily surrendered himself to the EFCC on October 16 for questioning.