A Federal High Court in Lagos has discharged and acquitted former Ekiti State Governor, Ayodele Fayose, of allegations of money laundering and fraud amounting to ₦6.9 billion.
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 linking him to the alleged crimes.
The court concluded that there was insufficient evidence to warrant Fayose presenting a defense.
Background of the Case
Ayodele Fayose was initially arraigned in 2018 on an 11-count charge bordering on money laundering and theft, alongside his company, Spotless Investment Ltd. The charges included allegations that Fayose:
1.Took possession of ₦1.2 billion for his 2014 gubernatorial campaign.
2. Received $5 million in cash from former Minister of State for Defence, Musiliu Obanikoro, bypassing financial institutions.
3. Laundered various sums, retaining and using over ₦1.6 billion to acquire properties through proxies and companies like De Privateer Ltd and Still Earth Ltd, in violation of the Money Laundering (Prohibition) Act, 2011.
These alleged offenses were said to have occurred during Fayose's tenure as governor and involved funds reportedly linked to the office of the former National Security Adviser.
Court Proceedings and Ruling
The case, initially heard by Justice Mojisola Olatoregun, was later transferred to Justice Aneke. On May 20, the court reserved its decision after hearing arguments from all parties involved:
1. Chief Kanu Agabi (SAN), counsel to Fayose (1st defendant).
2. Olalekan Ojo (SAN), representing Spotless Investment Limited (2nd defendant).
3. Rotimi Jacobs (SAN), representing the EFCC.
Chief Agabi, in his no-case submission dated July 16, 2024, argued that the prosecution had not presented enough evidence to establish a prima facie case against his client.
He highlighted that Abiodun Agbele, who was allegedly involved in the offenses, was not jointly tried, which he argued weakened the prosecution’s case.
Agabi contended that "the predicate offenses 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." He ultimately urged the court to discharge Fayose, stating that he had no case to answer.
The court's decision to discharge and acquit Fayose marks the conclusion of a significant legal battle.