
Ayo Fayose
₦6.9bn fraud: Fayose acquitted, EFCC vows to go on appeal
Former Ekiti State Governor, Ayo Fayose, has been acquitted by the Federal High Court in Lagos over charges bordering on money laundering and theft to the tune of ₦6.9bn.
But the Economic and Financial Crimes Commission (EFCC) has rejected the judgment delivered by Justice Chukwujekwu Aneke in Ikoyi, Lagos, discharging the former governor, saying it will go on appeal.
However, in the judgment, Justice Chukwujekwu Aneke upheld a no-case submission filed by Fayose, ruling that the EFCC failed to link him to the alleged crime or establish a prima facie case to warrant him opening his defence.
Fayose was first arraigned in 2018 before Justice Mojisola Olatoregun, but the EFCC later secured a transfer of the case to Justice Aneke.
Fayose was accused of receiving ₦1.2bn for his 2014 governorship campaign and collecting $5m in cash from a former Minister of State for Defence, Musiliu Obanikoro, without going through any financial institution.
He was also charged with laundering various sums, including over ₦1.6bn, which was allegedly used to acquire properties through companies such as De Privateer Ltd and Still Earth Ltd.
The former governor and his company, Spotless Investment Ltd, were re-arraigned before Justice Aneke on 11 counts bordering on money laundering and theft.
Fayose and his company, Spotless Investment Ltd, were re-arraigned before Justice Aneke on 11 counts bordering on money laundering and theft.
On Wednesday, Fayose’s lawyer, Chief Kanu Agabi (SAN), argued that the EFCC failed to prove any of the allegations.
According to him, Abiodun Agbele, who was allegedly involved in the transactions, was not charged alongside Fayose.
He said, “With due respect, the predicate offences on which these charges are based do not hold water. Criminal breach of trust and conspiracy are distinct, and no co-conspirator was charged alongside the defendant,” Agabi submitted.
Justice Aneke agreed in his judgement and consequently discharged the former governor.
However, the EFCC has rejected the judgment delivered by Justice Aneke, saying it is going to the Court of Appeal.
According to the EFCC spokesperson, Dele Oyewale, the commission is already studying the ruling and preparing for an appeal.
“The EFCC reaffirms its commitment to the rule of law as it briefs its counsel to appeal the judgment,” he said.
Fayose was re-arraigned on Tuesday, July 2, 2019, alongside Spotless Investment Limited on an 11-count charge bordering on money laundering and stealing to the tune of N6.9b billion.