Federal Republic of Nigeria v. Ayodele Peter Fayose and Spotless Investment Limited
Decided- Court
- Federal High Court, Ikoyi, Lagos
- Filed
- Oct 2018
- Parties
- Economic and Financial Crimes Commission (for the Federal Republic of Nigeria) v. Ayodele Fayose (1st defendant) and Spotless Investment Limited (2nd defendant)
What was claimed
11 counts of criminal breach of trust, theft and money laundering under the Money Laundering (Prohibition) Act 2011. The EFCC alleged receipt of about N1.219bn on 17 June 2014 to fund the 2014 Ekiti governorship campaign and USD 5m in cash from Senator Musiliu Obanikoro without passing through a financial institution, from funds linked to the Office of the National Security Adviser; total sums reported as about N2.2bn at arraignment and N6.9bn in later reporting.
What the court decided
16 July 2025: Justice Chukwujekwu Aneke upheld the defence no-case submission, holding that the prosecution had not made out a prima facie case and that prosecution witness testimony lacked probative value and contained inconsistencies; both defendants were discharged and acquitted. Earlier, on 22 October 2018, Justice Olatoregun ordered Fayose held in EFCC custody pending a bail hearing.1 2 3 4