Fayose’s money laundering case dismissed as court rules EFCC failed to link him to ₦6.9bn theft, upholding no-case submission in a major legal victory

The Fayose’s money laundering case has been dismissed by the Federal High Court in Lagos, with the former Ekiti State governor discharged of all charges relating to ₦6.9 billion theft and financial crimes.

Also read: Abigail Katung money laundering allegations shake UK civic scene

Justice Chukwujekwu Aneke delivered the ruling on Wednesday, upholding a no-case submission filed by Fayose’s legal team.

The court found that the Economic and Financial Crimes Commission failed to establish a prima facie case against the former governor or connect him directly to any of the alleged offences.

Fayose, who was first arraigned in 2018 before Justice Mojisola Olatoregun, was later re-arraigned before Justice Aneke after the case was reassigned.

He and his company, Spotless Investment Ltd, had faced 11 counts bordering on money laundering and theft.

The EFCC alleged that Fayose collected ₦1.2 billion for his 2014 governorship campaign and also received $5 million in cash from former Minister of State for Defence, Musiliu Obanikoro, without routing the funds through a financial institution.

In addition, he was accused of laundering over ₦1.6 billion through proxy companies like De Privateer Ltd and Still Earth Ltd, which were allegedly used to acquire properties.

At the resumed hearing, Fayose’s lead counsel, Chief Kanu Agabi (SAN), argued that the prosecution failed to provide credible evidence tying his client to the alleged crime.

He also highlighted the absence of Abiodun Agbele—allegedly a key player in the transaction—on the charge sheet.

“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 told the court.

Justice Aneke agreed with the defence and discharged Fayose, marking a significant legal victory for the former governor.

The Fayose’s money laundering case had drawn national attention, particularly due to its links to campaign financing and alleged misuse of funds from the Office of the National Security Adviser during the previous administration.

Also read: Aisha Achimugu allegedly assaults Channels TV reporter during money laundering trial

The EFCC is yet to issue an official response to the ruling, but the judgment is expected to reignite debate on prosecutorial standards and the handling of high-profile corruption cases in Nigeria.