The Economic and Financial Crimes Commission (EFCC) says it will appeal the judgement of the Federal High Court in Lagos, which on Wednesday discharged and acquitted former Ekiti State Governor, Ayodele Fayose, of alleged ₦6.9 billion fraud.
In a post on its official X (formerly Twitter) handle, the Commission said it is reviewing the judgement delivered by Justice Chukwujekwu Aneke and has started briefing its legal team ahead of an appeal.
“Sequel to the judgement of Justice Chukwujekwu Aneke… acquitting and discharging a former Governor of Ekiti State, Mr. Ayo Fayose… the Commission wishes to state that it is already studying the ruling and preparing for an appeal,” the EFCC stated.
Fayose, alongside his company Spotless Investment Ltd, was re-arraigned on July 2, 2019, on an 11-count charge bordering on money laundering and stealing. The trial began in 2018 before Justice Mojisola Olatoregun before being reassigned to Justice Aneke.
In his ruling, Justice Aneke upheld a no-case submission by Fayose’s counsel, Chief Kanu Agabi (SAN), stating that the EFCC failed to prove any credible link between the defendant and the alleged crimes.
He said the predicate offences on which the charges were based lacked substance and that the testimonies of key prosecution witnesses — including Senator Musiliu Obanikoro — were inconsistent and unconvincing.
“There is no doubt he was paid, but where did the money come from?” the judge queried.
He also criticised the failure of the prosecution to charge alleged co-conspirators, noting that conspiracy and criminal breach of trust are distinct and must be proved independently. He described the evidence from Diamond Bank staff as inconclusive and unsupported by documentation.
On the charge of failure to declare assets, the judge held that Fayose, being a private citizen at the time of arraignment, could not be held to that obligation under the law.
Justice Aneke ruled: “The no-case submission succeeds. The first and second defendants are hereby discharged.”
Fayose, overwhelmed by the verdict, broke down in tears and knelt in gratitude outside the courtroom. He thanked God and his legal team, describing the judgement as the end of a long burden that had lasted seven years.
The EFCC had accused the former governor of receiving ₦1.2 billion and $5 million from Senator Obanikoro for his 2014 campaign and laundering over ₦1.6 billion through companies linked to him.
