‘N6.9bn money laundering’: Court to rule on Fayose’s no-case submission July 10

A federal high court in Lagos has fixed July 10 for ruling on a no-case submission filed by Ayodele Fayose, the former governor of Ekiti state, in his trial over money laundering and fraud allegations.

Chukwujekwu Aneke, the presiding judge, reserved ruling after hearing arguments from counsel in the case on Monday.

The Economic and Financial Crimes Commission (EFCC) re-arraigned Fayose and his company, Spotless Investment Limited, on an 11-count charge of money laundering to the tune of N6.9 billion allegedly committed when he was the governor.

On October 18, 2018, the EFCC preferred the 11-count charge against Fayose and his company, claiming that Musiliu Obanikoro, the former minister of state for defence, allegedly withdrew and delivered about N2.2 billion from a company (Sylvan Mcnamara) that failed to carry out jobs approved by Sambo Dasuki, the then national security adviser (NSA).

The anti-graft agency alleged that the fund was diverted to the benefit of Fayose during the 2014 governorship election in Ekiti state.

While making a no-case submission, Kanu Agabi, counsel to the former governor, argued that the prosecution failed to establish a prima facie case against Fayose.

He noted that Abiodun Agbele, who allegedly played a central role in the transactions, was not charged alongside Fayose, weakening the EFCC’s case.

“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 submitted.

He prayed the court to rule that Fayose has no case to answer.

Olalekan Ojo, counsel to the second defendant, adopted a separate no-case submission dated March 21, 2025, supported by documents filed on May 16.

The lawyer argued that key prosecution evidence was unreliable, especially the testimony of Obanikoro, the 13th prosecution witness, who confirmed there was no communication between Fayose and Dasuki.

However, Rotimi Jacobs, prosecution counsel, asked the court to dismiss the no-case submissions.

Adopting the prosecution’s counter-affidavit and written address dated May 8, 2025, Jacobs argued that the defence failed to justify several suspicious transactions.

Jacobs questioned why Fayose would not use his personal bank account for transfers if the funds from the NSA were legitimate.

He cited testimony from Abubakar Madaki, an EFCC investigator, who said Fayose used associates to acquire properties in Abuja, Lagos, and abroad – individuals who later denied ownership, even though Fayose admitted the properties were his.

“If the money was clean, why not buy the properties in his name?” Jacobs asked.

He also cited Obanikoro’s testimony that Fayose requested the funds in cash and introduced Agbele to collect the money, insisting the defendant must account for these actions.

After arguments were concluded, Agabi sought and obtained leave for Fayose to travel abroad for medical treatment.

The judge adjourned the matter to July 10 for ruling on the no-case submission.

Fayose was initially arraigned in 2018 before Mojisola Olatoregun after which the case was reassigned to Aneke.