The EFCC, through its lawyer, Rotimi Jacobs (SAN), had pressed 11 counts of stealing and money laundering against Fayose and the company.
A former Governor of Ekiti State, Ayodele Fayose has challenged a N6.9 billion fraud charges levelled against him by the Economic and Financial Crimes Commission (EFCC).
Fayose has now filed a no-case submission in response to the charges.
The no-case submission was heard by Justice Chukwujekwu Aneke of the Federal High Court in Lagos on Monday, with the ruling reserved for a later date.
Fayose, who is facing charges of money laundering and stealing, was represented by a former Attorney General of the Federation, Chief Kanu Agabi (SAN), while Olalekan Ojo (SAN) represented Spotless Investment Limited, the second defendant in the case.
The EFCC, through its lawyer, Rotimi Jacobs (SAN), had pressed 11 counts of stealing and money laundering against Fayose and the company.
However, during the proceedings, Fayose’s counsel, Agabi, argued that the EFCC had failed to establish a prima facie case against the former governor.
Agabi emphasised that a central figure in the alleged transactions, Abiodun Agbele, was not charged alongside Fayose, which he claimed weakened the prosecution’s case.
“The predicate offences on which these charges are based do not hold water. Criminal breach of trust and conspiracy are distinct charges, and no co-conspirator was docked with the defendant,” Agabi stated.
The second defence counsel, Ojo, also adopted the no-case submission filed on March 21, 2025, and further supported by additional documents on May 16.
Ojo focused on the credibility of the prosecution’s 13th witness, former Minister of State for Defence, Senator Musiliu Obanikoro, arguing that his testimony had been seriously eroded under cross-examination.
Ojo pointed out that Obanikoro had admitted there was no direct communication between Fayose and the former National Security Adviser, Col. Sambo Dasuki, undermining the prosecution’s narrative. “This significantly weakens the case against Fayose,” Ojo said.
In response, EFCC prosecutor, Rotimi Jacobs, urged the court to dismiss the no-case submissions, citing a counter-affidavit and written address dated May 8, 2025. Jacobs questioned why Fayose did not use his personal bank account for the transactions if they were legitimate.
He pointed to the testimony of EFCC investigator, Abubakar Madaki, who stated that Fayose used associates to purchase properties both in Nigeria and abroad.
According to Madaki, these associates later denied owning the properties, even though Fayose had claimed ownership in his statement. “If the money was clean, why didn’t he acquire the properties in his name?” Jacobs asked.
Jacobs also referenced Obanikoro’s testimony, where he stated that Fayose personally requested the funds in cash and introduced Agbele to handle the delivery, calling for a defence from the accused.
After the arguments, Justice Aneke granted Fayose permission to travel abroad for medical treatment, following a request from his counsel, Agabi. The court then adjourned the case to July 10, 2025, for ruling on the no-case submission.
Fayose was originally arraigned in 2018 before Justice Mojisola Olatoregun, who later retired, prompting the case to be reassigned to Justice Aneke.
The EFCC accuses Fayose of receiving ₦1.2 billion to finance his 2014 election campaign and taking $5 million in cash from Obanikoro, bypassing financial institutions.
He is also accused of laundering over ₦1.6 billion through proxies and companies, including De Privateer Ltd and Still Earth Ltd, in violation of the Money Laundering (Prohibition) Act, 2011.
