Justice Chukwujekwu Aneke of the Federal High Court in Lagos has postponed delivering a decision on the no-case application filed by former Ekiti State Governor, Ayodele Fayose, who is standing trial over allegations of stealing and laundering ₦6.9 billion.
Fayose, along with his company, Spotless Investment Limited, faces an 11-count charge brought by the Economic and Financial Crimes Commission (EFCC).
The charges stem from allegations of financial misconduct during his tenure as governor, involving funds reportedly traced to the office of the former National Security Adviser (NSA).
At the court session, Chief Kanu Agabi, SAN, representing Fayose, told the court the EFCC had failed to establish a prima facie case against his client.
Agabi, in his submission dated July 16, 2025, argued that a key figure in the alleged transactions, Abiodun Agbele, had not been charged, thereby weakening the prosecution’s claims.
“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi said, urging the judge to find that Fayose had no case to answer.
Olalekan Ojo, SAN, who appeared for Spotless Investment Ltd., the second defendant, adopted a separate no-case submission dated March 21, 2025, and backed by documents filed on May 16.
Ojo challenged the credibility of the prosecution’s evidence, specifically the testimony of its 13th witness, former Minister of State for Defence, Senator Musiliu Obanikoro.
According to Ojo, Obanikoro’s testimony undercut the EFCC’s case. He said, “Senator Musiliu Obanikoro confirmed there was no communication between Fayose and then NSA, Col. Sambo Dasuki.”
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Opposing the defence submissions, EFCC’s counsel, Rotimi Jacobs, SAN, urged the court to dismiss them.
Relying on the prosecution’s counter-affidavit and written address dated May 8, 2025, Jacobs insisted that Fayose must explain the suspicious financial activities linked to him.
“If the money was clean, why not buy the properties in his name?” Jacobs asked, referring to EFCC investigator Abubakar Madaki’s testimony that Fayose used associates to acquire properties in Abuja, Lagos, and abroad, only for those associates to later deny ownership, despite Fayose admitting they belonged to him.
Jacobs also pointed to Obanikoro’s testimony that Fayose had personally requested the funds in cash and introduced Agbele to collect the money. “The defendant must account for these actions,” Jacobs submitted.
At the end of proceedings, Agabi sought and received court permission for Fayose to travel abroad for medical treatment.
Justice Aneke adjourned the matter to July 10, 2025, when he is expected to deliver his ruling.
Fayose was first arraigned in 2018 before Justice Mojisola Olatoregun before the case was reassigned.
The EFCC alleges that Fayose received ₦1.2 billion for his 2014 gubernatorial campaign and $5 million in cash from Obanikoro, sidestepping financial regulations.
He is also accused of laundering over ₦1.6 billion through companies like De Privateer Ltd. and Still Earth Ltd., allegedly using proxies to purchase high-end properties. Fayose has pleaded not guilty to all charges.