A Federal High Court in Lagos has cleared Ayodele Fayose, former Ekiti State Governor, of all money laundering and fraud charges totaling ₦6.9 billion.
Justice Chukwujekwu Aneke accepted a no-case submission, ruling that the Economic and Financial Crimes Commission (EFCC) failed to present sufficient evidence to warrant a trial
Fayose and his company, faced an 11-count charge related to alleged campaign funding and property acquisitions during his 2014 tenure.
These included ₦1.2 billion for political campaigns and $5 million from former minister Musiliu Obanikoro
His defence, led by Senior Advocate Kanu Agabi, argued that the EFCC did not produce credible witnesses or evidence.
They also highlighted that key figures like Abiodun Agbele were not charged, undermining conspiracy claims
EFCC’s prosecutor, Rotimi Jacobs, pressed that several suspicious financial transactions lacked explanation and questioned why properties were held under associates’ names
However, Justice Aneke concluded that the prosecution’s case was built on weak, inconsistent testimony and did not establish a prima facie basis to proceed
This ruling marks the end of a nearly seven-year legal battle, starting from Fayose’s arraignment in October 2018.
It adds to the growing list of high-profile acquittals of political figures in Nigeria. The EFCC has yet to confirm whether it will appeal the judgment.
