Court Reserves Ruling on Fayose’s No-Case Submission in N6.9bn Fraud Trial

Wale Igbintade

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 EFCC on an 11-count charge of money laundering and theft allegedly committed during his tenure as governor.

The charges relate to funds reportedly linked to the office of the former National Security Adviser (NSA).

Adopting the no-case submission dated July 16, 2025, Agabi 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 urged the court to rule that Fayose has no case to answer.

Ojo, counsel to the 2nd defendant, adopted a separate no-case submission dated March 21, 2025, supported by documents filed on May 16.

He argued that key prosecution evidence was unreliable, especially the testimony of the 13th prosecution witness, former Minister of State for Defence, Senator Musiliu Obanikoro, who confirmed there was no communication between Fayose and then NSA, Col. Sambo Dasuki.

Opposing the submissions, Jacobs urged the court to dismiss them.

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

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

He referenced testimony from EFCC investigator Abubakar Madaki, who stated that Fayose used associates to acquire properties in Abuja, Lagos, and abroad, individuals who later denied ownership, although Fayose admitted they 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, Chief Agabi sought and obtained leave for Fayose to travel abroad for medical treatment.

Justice Aneke adjourned the matter to July 10, 2025, for ruling on the no-case submission.

Fayose was initially arraigned in 2018 before Justice Mojisola Olatoregun, before the case was reassigned to Justice Aneke.

According to the charge, Fayose allegedly received N1.2 billion for his 2014 gubernatorial campaign and $5 million in cash from Obanikoro, bypassing financial institutions.

He is also accused of laundering over N1.6 billion, which he allegedly used to acquire properties through proxies and companies including De Privateer Ltd. and Still Earth Ltd., in violation of the Money Laundering (Prohibition) Act, 2011.

He however pleaded not guilty to all the charges.