Alleged money laundering: Court fixes July 10 to rule on Fayose’s no-case submission

A Federal High Court sitting in Lagos has fixed July 10 for ruling on a no-case submission filed by the former governor of Ekiti state, Ayodele Fayose, in his trial over money laundering and fraud allegations.

The presiding judge, Chukwujekwu Aneke reserved ruling after hearing arguments from counsel in the case on Monday.

It will be recalled that the Economic and Financial Crimes Commission, EFCC, re-arraigned Fayose and his company, Spotless Investment Limited, on an 11-count charge of money laundering to the tune of N6.9 billion allegedly committed when he was the governor.

The anti-graft agency, on October 18, 2018, preferred the 11-count charge against Fayose and his company, stating that Musiliu Obanikoro, the former minister of state for defence, allegedly withdrew and delivered about N2.2 billion from a company (Sylvan Mcnamara) that failed to carry out jobs approved by the then National Security Adviser, NSA, Sambo Dasuki.

According to the EFCC, the fund was diverted to the benefit of Fayose during the 2014 governorship election in Ekiti state.

Counsel to the former governor, Kanu Agabi, while making a no-case submission, argued that the prosecution failed to establish a prima facie case against Fayose.

The counsel argued that Abiodun Agbele, who allegedly played a central role in the transactions, was not charged alongside Fayose, weakening the EFCC’s case.

“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi submitted.

He prayed the court to rule that Fayose has no case to answer.

Meanwhile, counsel to the second defendant, Olalekan Ojo, adopted a separate no-case submission dated March 21, 2025, supported by documents filed on May 16.

The lawyer argued that key prosecution evidence was unreliable, especially the testimony of Obanikoro, the 13th prosecution witness, who confirmed there was no communication between Fayose and Dasuki.

However, prosecution counsel, Rotimi Jacobs, prayed the court to dismiss the no-case submissions.

Adopting the prosecution’s counter-affidavit and written address dated May 8, 2025, Jacobs argued that the defence failed to justify several suspicious transactions.

Jacobs questioned why Fayose would not use his personal bank account for transfers if the funds from the NSA were legitimate.

He cited testimony from Abubakar Madaki, an EFCC investigator, who said Fayose used associates to acquire properties in Abuja, Lagos, and abroad – individuals who later denied ownership, even though Fayose admitted the properties were his.

After arguments were concluded, Agabi sought and obtained leave for Fayose to travel abroad for medical treatment.

The judge adjourned the matter to July 10 for ruling on the no-case submission.

DAILY POST reports that Fayose was initially arraigned in 2018 before Mojisola Olatoregun after which the case was reassigned to Aneke.

Alleged money laundering: Court fixes July 10 to rule on Fayose’s no-case submission