Former Ekiti State Governor, Ayodele Fayose, has asked the Federal High Court in Ikoyi, Lagos, to dismiss the N2.2 billion fraud case filed against him by the Economic and Financial Crimes Commission (EFCC), insisting that the prosecution has failed to establish a credible case.
Fayose’s legal team, led by Chief Kanu Agabi (SAN) and Olalekan Ojo (SAN), filed a no-case submission before Justice Chukwujekwu Aneke, contending that the EFCC’s evidence and witness testimonies were speculative and insufficient to warrant a defence.
“All the witnesses that testified for the prosecution, including the exhibits tendered, were based on mere speculations,” the defence stated. “This does not justify calling upon the defendants to enter any defence.”
The EFCC had charged Fayose and Spotless Investment Limited with 11 counts bordering on money laundering and fraud in 2018, alleging that N2.2 billion was illicitly funneled through Sylvan Mcnamara Limited—a company allegedly linked to the Office of the National Security Adviser under Col. Sambo Dasuki (rtd)—for Fayose’s 2014 election campaign.
However, key witness Senator Musiliu Obanikoro, who allegedly delivered the cash, testified that the funds were campaign donations and proceeds from fundraising activities, not diverted public funds. Obanikoro, under oath, also disclosed that he was coerced during the EFCC investigation and had no official ties to Sylvan Mcnamara.
The defence pointed out that the alleged middleman, Abiodun Agbele, who was central to the fund transfers, was never charged by the EFCC. They also cited testimony from nine bank officials, who confirmed that all deposits into Fayose’s accounts were legitimate and never flagged by regulators.
Zenith Bank’s former Assistant General Manager, Abiodun Adekoya Oshode, and Akure branch manager, Alade Oluseye, testified that Fayose was never seen depositing any cash. They further clarified that tellers bearing the name “Ayo” could not be definitively linked to the former governor.
Moreover, EFCC’s own investigating officer, Muhammed Madaki, admitted under cross-examination that there was no record of any communication between Fayose and either Col. Dasuki or Obanikoro.
The defence also cited testimony from PDP official, Mr. Ademola Famokun, who confirmed that the funds in question were raised through party activities, not sourced from the Office of the National Security Adviser.
“It can only be reasonably concluded that Ayodele Fayose collected donations in the custody of Senator Musiliu Obanikoro without more,” the defence submitted.
Justice Aneke adjourned the matter to July 10, 2025, for a ruling on the no-case submission.
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