A Federal High Court in Lagos has discharged and acquitted former Ekiti State Governor, Ayodele Fayose, of N6.9 billion fraud charges filed against him by the Economic and Financial Crimes Commission (EFCC).
Following the ruling, an emotional Fayose broke down in tears outside the courtroom, as his supporters erupted in celebration. Kneeling on the court premises, he expressed gratitude to God, describing the judgment as a vindication. He wiped tears from his eyes, embraced his lead counsel, Chief Kanu Agabi (SAN), and shook hands with members of his legal team.
Fayose also hugged Olalekan Ojo (SAN), counsel to Spotless Investment Limited the company jointly charged with him who had joined in filing the no-case submission that ultimately led to their acquittal. At one point, the former governor broke into a celebratory chant, singing “Winner ooo, winner!” as he exited the courthouse.
Delivering the judgment, Justice Chukwujekwu Aneke upheld the no-case submission filed by Fayose and Spotless Investment Limited, ruling that the EFCC failed to establish a prima facie case against the defendants.
The EFCC had alleged that Fayose, during his tenure as governor between 2014 and 2018, laundered N6.9 billion. According to the commission, he received N1.2 billion to fund his 2014 election campaign and collected $5 million in cash from the then Minister of State for Defence, Musiliu Obanikoro, outside the banking system.
The anti-graft agency further accused Fayose of laundering over N1.6 billion through proxies and companies such as De Privateer Ltd and Still Earth Ltd, in contravention of the Money Laundering (Prohibition) Act, 2011.
The trial, which began on October 22, 2018, before Justice Mojisola Olatoregun, spanned nearly seven years. At the last hearing on May 19, 2025, Fayose’s counsel, Chief Agabi, urged the court to dismiss the charges, arguing that the prosecution failed to provide credible evidence linking his client to any wrongdoing.
He also pointed out the conspicuous absence of Abiodun Agbele a key figure allegedly involved in the transactions from the charge sheet.
