A Federal High Court in Lagos has acquitted former Ekiti State Governor, Ayodele Fayose, of all charges in the long-running money laundering case filed against him by the Economic and Financial Crimes Commission (EFCC).
The court ruled that the EFCC failed to provide sufficient evidence to support the allegations.
In delivering its judgment, the court upheld Fayose’s no-case submission, stating that the prosecution did not establish a prima facie case to warrant his continued trial.
Fayose had faced an 11-count charge involving alleged fraud and money laundering during his time in office. The case, which began in 2018, also involved his company, Spotless Investment Limited. He was first arraigned shortly after leaving office and re-arraigned in 2019.
The EFCC alleged that Fayose received N2.2 billion from the Office of the National Security Adviser (ONSA) through former Minister of State for Defence, Senator Musiliu Obanikoro, during the 2014 Ekiti governorship election. The funds, the commission claimed, were part of a larger N6.9 billion allocated for fictitious contracts and ultimately laundered by Fayose.
Investigators said the funds were moved through Sylvan Mcnamara Limited, a firm tied to Obanikoro, and delivered to Fayose in cash via bullion vans and private aircraft. They further alleged that the money was used to purchase high-end properties in Lagos and Abuja, with ownership concealed through associates and front companies.
Despite these claims, Justice Aneke concluded that the prosecution’s case lacked the necessary evidence to proceed. The judge ruled in favour of the defence and dismissed all charges.
