N6.9bn Fraud: After seven years, Fayose to know fate on Tuesday

Published on July 14, 2025 at 12:29 PM

Former Ekiti State Governor Ayodele Fayose is set to learn his fate tomorrow, Tuesday, July 15, in the N6.9 billion fraud case that has lasted nearly seven years.

Justice Chukujekwu Aneke of the Federal High Court in Ikoyi, Lagos, will decide on the “no case submission”; filed by Fayose’s legal team.

The ruling was originally scheduled for July 10 but was postponed because the judge was absent.

Fayose and his company, Spotless Investment Limited, face an 11-count charge filed by the Economic and Financial Crimes Commission (EFCC).

The EFCC alleges Fayose received N1.2 billion to fund his 2014 election campaign and took $5 million in cash from former Minister Musiliu Obanikoro, avoiding financial institutions.

At the last hearing on May 19, Fayose’s lead lawyer, Chief Kalu Agabi (SAN), said the prosecution failed to prove a case.

He argued, “All the witnesses and exhibits were based on mere speculation and do not justify continuing the trial.”;

Agabi also pointed out that a key figure in the case, Abiodun Agbele, was not charged alongside Fayose.

He added that; “criminal breach of trust and conspiracy are different charges, and no co-conspirator was charged with my client.”;

The EFCC’s lawyer, Rotimi Jacobs (SAN), asked the court to dismiss the no-case submission.

He said the defendants failed to explain suspicious financial transactions and questioned why Fayose did not use his own bank accounts if the money was legitimate.

The court’s decision will determine whether Fayose must open his defence or be freed from the charges.

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