Former Ekiti State Governor, Ayodele Fayose, has urged the Federal High Court in Ikoyi, Lagos, to dismiss the N2.2 billion fraud charges filed against him by the Economic and Financial Crimes Commission (EFCC), insisting he has no case to answer.
Fayose’s legal team, led by Chief Kanu Agabi (SAN) and Olalekan Ojo (SAN), filed a “no-case” submission before Justice Chukujekwu Aneke, arguing that the prosecution’s case lacked merit and was based purely on speculation.
“All the witnesses that testified for the prosecution, including the exhibits tendered, were based on mere speculations, which would not warrant the defendants’ evidence,” the lawyers stated.
Fayose and Spotless Investment Limited were first arraigned on October 18, 2018, over allegations that N2.2 billion was diverted from a company, Sylvan Mcnamara, under the guise of executing security contracts. The EFCC claims the funds were funneled to Fayose during the 2014 Ekiti State governorship election.
However, key prosecution witness, Senator Musiliu Obanikoro, reversed his earlier claims under oath. He testified that the funds he delivered to Fayose came from donations and fundraising efforts tied to the 2014 election, adding that he was coerced and maltreated by EFCC investigators during the probe.
Obanikoro also told the court that he had no official ties to Sylvan Mcnamara and lacked any mandate to act on the company’s behalf.
Agabi further argued that Abiodun Agbele, alleged to have coordinated the cash delivery, was never arraigned, and that Fayose’s name appeared nowhere on the list of beneficiaries attached to the funds withdrawn from Sylvan Mcnamara’s account.
Nine bank officials also testified, stating that all funds lodged in Fayose’s account were legitimate and never flagged by financial regulators.
“If the monies brought by Obanikoro were illegitimate, they would not have been deposited into a traceable bank account,” the defense maintained.
The EFCC had amended its charges on November 24, 2021, and closed its case after calling 20 witnesses on February 28, 2025. Justice Aneke is expected to rule on the no-case submission in the coming weeks.
