Former Governor of Ekiti State, Mr. Ayodele Fayose, on Monday urged the Federal High Court sitting in Ikoyi, Lagos to dismiss the N2.2 billion fraud case filed against him by the Economic and Financial Crimes Commission (EFCC), stating that he has no case to answer.
Fayose, through his legal team led by Chief Kanu Agabi (SAN) and Olalekan Ojo (SAN), filed a “no case submission” before Justice Chukujekwu Aneke.
The defense argued that the prosecution failed to establish a prima facie case against the defendants, insisting that all testimonies and exhibits presented by the EFCC were speculative and unsubstantiated.
The EFCC had originally arraigned Fayose alongside his company, Spotless Investment Limited, on October 18, 2018, on an 11-count charge bordering on money laundering and alleged diversion of N2.2 billion.
The Commission alleged that the funds were part of monies disbursed by the Office of the National Security Adviser (NSA), under Col. Sambo Dasuki (rtd.), and were funneled through a company, Sylvan Mcnamara Limited, to Fayose during the 2014 governorship election in Ekiti State.
However, one of the key prosecution witnesses, Senator Musiliu Obanikoro, who was allegedly involved in the delivery of the funds, testified under oath that the money in question was sourced from political donations and fundraising activities organized by the Peoples Democratic Party (PDP), not from any illicit source.
Obanikoro, who chaired various campaign committees for the PDP during the 2014 election, told the court that he had no formal ties to Sylvan Mcnamara and acted solely in his capacity as a party official.
He also claimed he was coerced during EFCC interrogations and denied any direct communication between Fayose and the NSA regarding the disbursement of funds.
Further weakening the prosecution’s case, multiple bank officials, including witnesses from Zenith Bank, testified that the transactions linked to Fayose were legitimate and raised no regulatory concerns at the time.
They also confirmed that Fayose was not seen personally lodging any funds, and no direct link could be established between him and the bank tellers or account details in question.
Defense counsel maintained that the EFCC failed to present concrete evidence tying Fayose to the alleged fraud, noting that Abiodun Agbele—who allegedly facilitated the fund transfers—was never arraigned.
They further stated that documents tendered in court showed no mention of Fayose as a beneficiary of the disbursed funds from Sylvan Mcnamara.
Additionally, the 20th prosecution witness, Mr. Ademola Famokun, a PDP official, corroborated Obanikoro’s claims, affirming that funds for the election campaign were sourced from party fundraising activities and not from the NSA’s office.
In their final submissions, both defense lawyers urged the court to uphold the “no case submission,” arguing that the EFCC’s case was riddled with contradictions, unsupported allegations, and unreliable testimonies.
Justice Chukujekwu Aneke adjourned the matter to July 10, 2025, for ruling on the no case submission.