Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, has upheld the No-case submission filed by a former governor of Ekiti State, Ayodele Fayose.

Justice Aneke , in his ruling on Wednesday, said the prosecution failed to establish a prima facie case against the first defendant and a firm, Spotless Investment Ltd.

At the last adjourned sitting on May 19, 2025, lead counsel to Mr Fayose, Kanu Agabi SAN, had argued the no-case submission and  submitted that the prosecution had failed to establish its case against his client.

He had also told the court that Abiodun Agbele, who is described as a co-conspirator  in the alleged transaction, was not charged alongside Mr Fayose.

“The predicate offences on which these charges are based do not hold water.

“Criminal breach of trust and conspiracy are distinct charges, and no co-conspirator was docked with the defendant, “ he had argued.

Counsel to the second defendant, Olalekan Ojo,  SAN, also adopted the no-case submission.

But opposing the application, the lead prosecution counsel, Rotimi Jacobs SAN, had urged the court to dismiss the no-case submissions.

Submitting that the defendants failed to explain the suspicious financial transactions, he had also queried why Mr Fayose did not use his personal bank account for the transactions “if they were clean.”

He added that a prosecution witness, Abubakar Madaki, an investigator with the EFCC, had in his testimony, stated that the former governor used associates to purchase properties both in Nigeria and abroad.

“ These are associates who later denied ownership of the properties, even though Fayose had claimed them in his statement,” he had added.

According to him, another testimony by a former minister of state for defence, Musiliu Obanikoro that Mr Fayose personally requested the funds in cash and introduced Agbele to handle the delivery required a defence from the accused.

While the defence has expressed satisfaction with the courts decision freeing Mr Fagose, At the resumed sitting today, the prosecution says it will appeal.

The  EFCC, on july 2, 2019, re-arraigned Fayose and  Spotless Investment Limited on an 11-count charge of laundering and stealing a total of N6.9bn.

The defendants had first been arraigned on October 22, 2018 before Justice Mojisola Olatoregun (now retired).