Breaking: Court Gives Final Judgment on Fayose vs EFCC

The Federal High Court sitting in Lagos has discharged and acquitted Ayodele Fayose, the former governor of Ekiti State, of all the charges the Economic and Financial Crimes Commission (EFCC) had brought against him in a long-standing money laundering case.

In the suit, the court upheld the no-case submission of the former governor, stating that the anti-graft agency could not establish a prima facie case against Fayose to warrant further hearing of the suit.

Recall that the former governor has been standing trial over the allegations of money laundering and fraud during his time in the Ekiti governor’s office. However, after years of legal battle, the court held that the evidence the EFCC had presented was not substantial enough to charge him.

In the suit, the EFCC accused the former governor of receiving a cash payment of N1.8 billion from Senator Musiliu Obanikoro, a former Minister of State for Defence, without making use of any financial institution, coupled with the fact that the amount was beyond what was legally permitted.

Also, the anti-graft agency accused the ex-governor of retaining a total of N300 million in his Zenith Bank account and also in control of the total sum of N622 million. The EFCC maintained that the monies in the custody of Fayose were recognised as proceeds of crime.

The EFCC alleged that the former governor directed De Privateer Ltd and Still Earth Ltd to keep a total of N851 million in their Zenith and FCMB accounts, in which they were expected to acknowledge the money as proceeds of crime.

Another allegation against Fayose was that he spent a total of N1.6 billion to buy properties in Lagos and Abuja, and the money was alleged to be part of the proceeds of crime.

The former governor was also accused of spending approximately N200 million to buy properties in Abuja using the name of his elder sister, Moji Oladeji. The EFCC said Fayose should have identified that as unlawful proceeds. The allegations against Fayose were contrary to several provisions of the Money Laundering Prohibition Act of 2011.

However, the former governor pleaded not guilty to all the allegations and was subsequently freed by the court.

Source: Legit.ng