Justice Chukwujekwu Aneke of the Federal High Court in Lagos has reserved ruling on the no-case submission filed by former Ekiti State Governor, Ayodele Fayose, in his trial over alleged money laundering and theft amounting to N6.9 billion.
The judge reserved his decision after hearing arguments from Chief Kanu Agabi, SAN, counsel to Fayose (the 1st defendant); Olalekan Ojo, SAN, representing the 2nd defendant, )Spotless Investment Limited); and Rotimi Jacobs, SAN, counsel to the Economic and Financial Crimes Commission (EFCC).
Fayose and his company were re-arraigned by the Economic and Financial Crimes Commission (EFCC) on an 11-count charge bordering on money laundering and theft.
The alleged offences took place during Fayose’s tenure as governor and involved funds allegedly linked to the office of the former National Security Adviser.
Chief Agabi, adopting his client’s no-case submission dated July 16, 2025, argued that the prosecution failed to establish a prima facie case.
He noted that Abiodun Agbele, who was allegedly involved in the offences, was not jointly tried, weakening the prosecution’s case.
“With due respect, the predicate offences 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,” Agabi submitted.
He urged the court to hold that Fayose has no case to answer.
Similarly, counsel for the 2nd defendant, Olalekan Ojo, SAN, adopted a no-case submission dated March 21, 2025, and supporting documents filed on May 16.
He argued that key prosecution evidence was discredited, particularly that of the 13th prosecution witness, former Minister of State for Defence, Senator Musiliu Obanikoro, who testified that there was no communication between Fayose and then NSA, Col. Sambo Dasuki.
In response, EFCC counsel, Rotimi Jacobs, SAN, urged the court to dismiss the no-case submissions.
He adopted the prosecution’s counter-affidavit and written address dated May 8, 2025, arguing that the defence failed to explain the suspicious transactions.
Jacobs questioned why Fayose would not offer his account for transfers if the funds from the NSA were legitimate.
He recalled testimony from EFCC investigator, Abubakar Madaki, who told the court that Fayose used associates to acquire multiple properties in Abuja, Lagos, and abroad —individuals who later denied ownership, while Fayose claimed them in his statement.
“If the money was clean, why not buy the properties in his name?” Jacobs asked.
He also referenced Obanikoro’s testimony that Fayose requested the funds in cash and introduced Agbele to facilitate the handover, stressing that the defendant has questions to answer.
After the submissions, Chief Agabi sought and obtained leave for Fayose to travel abroad for medical treatment.
Justice Aneke adjourned the case to July 10, 2025, for ruling on the no-case submission.
Fayose was initially arraigned in 2018 before Justice Mojisola Olatoregun, but the EFCC later secured a transfer of the case to Justice Aneke.
According to the charge, Fayose allegedly took possession of N1.2 billion for his 2014 gubernatorial campaign and received $5 million in cash from Obanikoro, bypassing financial institutions.
He was also accused of laundering various sums, retaining and using over N1.6 billion to acquire properties through proxies and companies such as De Privateer Ltd and Still Earth Ltd., in violation of several provisions of the Money Laundering (Prohibition) Act, 2011.
