From News Editor
Federal High Court in Lagos has discharged and acquitted the former Ekiti State Governor, Mr. Ayodele Fayose of the ₦6.9 billion fraud brought against him by the Economic and Financial Crimes Commission (EFCC).
Justice Chukwujekwu Aneke of the Federal High Court in Lagos delivered its verdict on Wednesday morning, acquitted and discharged Fayose of all 11 counts.
In his ruling, Justice Aneke upheld Fayose’s no-case submission, stating that the EFCC had failed to establish a prima facie case that warranted the former governor’s defence.
The judge also held that the witnesses and documents evidence tendered before the court by the Economic and Financial Crimes Commission (EFCC) were not enough to prove the guilt of the defendant.
The EFCC had accused Fayose of receiving a cash payment of N1.8 billion from former Minister of State for Defence, Senator Musiliu Obanikoro, without utilising a financial institution, an amount that exceeded the legally permitted limit. Additionally, the EFCC claimed that Fayose retained amounts totalling N300million in his Zenith Bank account and took control of an aggregate sum of about N622 million, which he should have recognised as proceeds of crime.
Fayose was also accused of directing De Privateer Ltd and Still Earth Ltd to hold cumulative amounts totalling N851 million in their Zenith and FCMB accounts, which they were expected to have acknowledge as proceeds of crime. Furthermore, he allegedly used approximately N1.6 billion to acquire properties in Lagos and Abuja, knowing they were part of the proceeds of crime.