Economic and Financial Crimes Commission (EFCC) has announced plans to appeal a recent court judgment that acquitted former Ekiti State Governor, Ayodele Fayose, of money laundering and fraud charges.
Gatekeepers News reports that Justice Chukwujekwu Aneke, the presiding judge of the Federal High Court, Lagos, ruled on Wednesday in favour of a no-case submission filed by Fayose and his co-defendant, Spotless Investment Limited.
The judge held that the EFCC failed to establish a prima facie case that would warrant the defendants entering a defence.
Following the verdict, EFCC counsel Rotimi Jacobs expressed the commission’s intention to obtain the certified true copy of the judgment and file an appeal.
Fayose was initially re-arraigned alongside his company on an 11-count charge bordering on alleged money laundering of N6.9 billion, dating back to his tenure as Governor.
The charges included alleged receipt of N1.2 billion for his 2014 gubernatorial campaign and a $5 million cash transaction from former minister Musiliu Obanikoro, allegedly circumventing banking channels.
EFCC also accused Fayose of acquiring properties worth over N1.6 billion through proxies and companies in violation of the Money Laundering Prohibition Act, 2011.
During the trial, Fayose’s lawyer, Kanu Agabi, SAN, argued that the prosecution did not prove its case, especially since a key figure in the alleged transactions, Abiodun Agbele, was not charged.
Agabi further pointed out that the predicate offences of conspiracy and criminal breach of trust lacked a credible foundation.
Olalekan Ojo, counsel to the second defendant, also argued that the testimony of key prosecution witnesses, including Obanikoro, lacked reliability.
He noted that there was no evidence of communication between Fayose and the former NSA, Sambo Dasuki, who was said to have provided the funds.
Jacobs, however, maintained that the evidence presented, including testimonies and financial trails, warranted a full trial.
He questioned why Fayose would not use his own bank account or purchase properties in his name if the funds were legitimate.
Despite these arguments, the court ruled in favour of the defendants, prompting EFCC to prepare for an appeal to challenge the acquittal.
