A Federal High Court in Lagos on Wednesday discharged and acquitted a former governor of Ekiti State, Ayodele Fayose, of alleged N6.9 billion fraud.
Justice Chukwujekwu Aneke upheld the no-case submission filed by Fayose, ruling that the prosecution failed to establish a prima facie case against him and his company, Spotless Investment Limited.
The Economic and Financial Crimes Commission (EFCC) had, on July 2, 2019, re-arraigned Fayose and his company on an 11-count charge bordering on money laundering and stealing, allegedly to the tune of N6.9 billion.
The defendants were first arraigned on October 22, 2018, before Justice Mojisola Olatoregun.
At the previous sitting on May 19, 2025, Fayose’s counsel, Chief Kanu Agabi (SAN), had argued a no-case submission dated May 16, 2025, asserting that the prosecution had failed to make a case warranting Fayose’s defence.
He pointed out that Abiodun Agbele, whom the prosecution described as a co-conspirator in the alleged transaction, was never charged alongside Fayose.
“The predicate offences on which these charges are based do not hold water. Criminal breach of trust and conspiracy are distinct charges, and no co-conspirator was docked with the defendant,” Agabi said.
Counsel to Spotless Investment Limited, Mr Olalekan Ojo (SAN), also adopted the no-case submission.
In response, prosecution counsel, Mr Rotimi Jacobs (SAN), had urged the court to dismiss the submissions. He referenced a counter-affidavit and written address dated May 8, 2025, and argued that the defendants failed to explain certain suspicious financial transactions.
Jacobs questioned why Fayose did not use his personal account “if the transactions were clean.” He cited testimony from EFCC investigator Abubakar Madaki, who said Fayose used associates to acquire properties in Nigeria and abroad, which were later disclaimed by those associates.
Jacobs also pointed to testimony from Musiliu Obanikoro, who stated that Fayose personally requested the funds in cash and introduced Agbele to coordinate delivery.
However, in his ruling on Wednesday, Justice Aneke held that the prosecution failed to provide sufficient evidence requiring the defendants to enter a defence.
He subsequently discharged and acquitted Fayose and his company.
Meanwhile, the prosecution counsel, Jacobs, said steps were being taken to obtain the ruling and prepare an appeal.
