LAGOS — Former Ekiti State Governor, Ayodele Fayose, was overcome with emotion on Wednesday after a Federal High Court in Lagos discharged and acquitted him of all charges in a protracted N6.9 billion money laundering case filed by the Economic and Financial Crimes Commission (EFCC).
Shortly after Justice Chukwujekwu Aneke upheld a no-case submission and struck out the case, Fayose stepped outside the courtroom, dropped to his knees, and gave thanks in an emotional display. He was seen weeping and chanting “Winner ooo, winner!” while hugging his legal team and well-wishers gathered at the court premises.
The case, which spanned nearly seven years, stemmed from allegations that Fayose, during his 2014–2018 tenure as governor, received N1.2 billion from then-Minister of State for Defence, Musiliu Obanikoro, to fund his 2014 campaign, and laundered over N1.6 billion through various proxies and companies in violation of the Money Laundering (Prohibition) Act, 2011.
The EFCC also alleged that Fayose took delivery of $5 million in cash and used associates to acquire properties both within and outside Nigeria. These associates, however, later denied ownership, according to EFCC’s lead investigator, Abubakar Madaki.
But in a dramatic turn, Justice Aneke ruled that the EFCC had failed to establish a prima facie case against Fayose and his company, Spotless Investment Limited. He emphasized that the prosecution’s evidence did not sufficiently link the former governor to any criminal conduct that would necessitate opening a defence.
Fayose’s lead counsel, Chief Kanu Agabi (SAN), had previously urged the court to dismiss the case, arguing that no co-conspirator was charged and that the prosecution failed to prove any predicate offence. Similarly, Olalekan Ojo (SAN), counsel to Spotless Investment, aligned with the no-case argument.
Reacting to the ruling, EFCC’s lead counsel Rotimi Jacobs (SAN) disagreed with the court’s decision, questioning why Fayose didn’t conduct the financial transactions through his own accounts if they were legitimate. He cited evidence from witnesses, including Obanikoro and Madaki, to support his case.
The EFCC has vowed to appeal the ruling. In a statement issued by the agency’s Head of Media and Publicity, Dele Oyewale, the commission confirmed that it is currently reviewing the judgment and has initiated the process of filing an appeal.
Despite the looming legal battle, Fayose’s acquittal marked a major legal victory for the former governor, who repeatedly claimed the charges were politically motivated. As he walked away from the courtroom surrounded by jubilant supporters, his tearful celebration reflected what he described as divine vindication.
