After nearly seven years of legal proceedings, the Federal High Court in Ikoyi, Lagos, will on Tuesday, July 15, deliver a pivotal ruling on the no-case submission filed by former Ekiti State Governor Ayodele Fayose in his ongoing ₦6.9 billion fraud trial.
Justice Chukujekwu Aneke is expected to determine whether Fayose and his company, Spotless Investment Limited, must enter a defence or be discharged from the 11-count charge brought against them by the Economic and Financial Crimes Commission (EFCC).
The EFCC alleges that Fayose received ₦1.2 billion to fund his 2014 gubernatorial campaign and accepted $5 million in cash from former Minister of State for Defence, Senator Musiliu Obanikoro, bypassing financial institutions. The prosecution claims the funds were laundered through proxies and used to acquire properties in Nigeria and abroad.
During the last hearing, Fayose’s lead counsel, Chief Kanu Agabi (SAN), argued that the prosecution failed to establish a prima facie case. He emphasized that key witnesses relied on speculation and that a central figure in the alleged transactions, Abiodun Agbele, was not charged alongside Fayose. Counsel for Spotless Investment, Olalekan Ojo (SAN), also challenged the credibility of Obanikoro’s testimony, noting the absence of direct communication between Fayose and the former National Security Adviser, Col. Sambo Dasuki.
In response, EFCC prosecutor Rotimi Jacobs (SAN) urged the court to reject the no-case submission, citing unexplained financial transactions and questioning why Fayose avoided using his personal bank accounts.
The ruling, originally scheduled for July 10, was postponed due to the judge’s absence. Tuesday’s decision will determine whether Fayose will proceed to present his defence or walk free from the long-standing allegations.