Former Ekiti State Governor, Ayodele Fayose, was discharged and acquitted of N6.9 billion fraud charges on Wednesday by the Federal High Court in Lagos, ending a legal battle that spanned nearly seven years.
The courtroom drama gave way to emotional scenes outside, where Fayose knelt on the pavement in prayer, wiping away tears as supporters broke into celebration. At one point, he broke into song—chanting “Winner ooo, winner!”—while embracing his lead counsel and members of his legal team.
The verdict followed the upholding of a no-case submission filed by Fayose and his company, Spotless Investment Limited. Delivering the judgment, Justice Chukwujekwu Aneke ruled that the Economic and Financial Crimes Commission (EFCC) had failed to establish a prima facie case, thus eliminating the need for the defendants to open their defence.
The EFCC had alleged that Fayose, during his 2014–2018 tenure as governor, laundered N6.9 billion through various proxies and front companies, including De Privateer Ltd and Still Earth Ltd. Central to the case were claims that Fayose received N1.2 billion in illicit funds to bankroll his 2014 campaign, and allegedly took $5 million in cash from then-Minister of State for Defence, Musiliu Obanikoro—circumventing financial institutions in the process.
Despite testimony from EFCC investigator Abubakar Madaki and Obanikoro himself—who said Fayose personally requested the funds and appointed an associate, Abiodun Agbele, to oversee the cash transfers—the court ruled that the prosecution had not provided sufficient evidence.
In his argument, Fayose’s lead counsel, Chief Kanu Agabi (SAN), criticised the absence of alleged co-conspirators on the charge sheet, questioning the credibility of the case. “The predicate offences are unproven. You cannot allege conspiracy without a second party,” he argued. Olalekan Ojo (SAN), counsel for Spotless Investment Limited, also backed the no-case submission.
But EFCC’s counsel, Rotimi Jacobs (SAN), insisted the charges were valid, asking, “If the money was clean, why didn’t he acquire the properties in his name?” Jacobs pointed to the suspicious use of proxies in acquiring assets, which were later denied by the associates involved.
Unmoved, Justice Aneke ruled in favour of Fayose, stating that the EFCC’s evidence fell short of the legal threshold required to proceed to full trial.
The anticorruption agency has since vowed to challenge the decision. In a statement signed by its Head of Media and Publicity, Dele Oyewale, the EFCC confirmed that it was reviewing the judgment and had begun the process of filing an appeal.
While the legal process may not yet be over, for Fayose, Wednesday’s courtroom victory was nothing short of deliverance. As he exited the courthouse, he was met with cheers from a crowd that saw the verdict as a rare win against the weight of Nigeria’s anticorruption machinery.
