A Federal High Court in Lagos has fixed July 10 to rule on a no-case submission filed by former Ekiti State Governor Ayodele Fayose in his trial over alleged money laundering and fraud.
It will be recalled that the Economic and Financial Crimes Commission (EFCC) re-arraigned Fayose and his company, Spotless Investment Limited, on an 11-count charge of money laundering to the tune of N6.9 billion allegedly committed when he was the governor.
The EFCC alleged that Musiliu Obanikoro, the former Minister of State for Defence, withdrew and delivered about N2.2 billion from a company that failed to carry out jobs approved by the then National Security Adviser, Sambo Dasuki.
According to the EFCC, the fund was allegedly diverted to the benefit of Fayose during the 2014 governorship election in Ekiti State.
Fayose’s counsel, Kanu Agabi, argued that the prosecution failed to establish a prima facie case against his client.
“With due respect, the predicate offences do not hold water. Criminal breach of trust and conspiracy are distinct offences, and no co-conspirator was charged,” Agabi submitted.
The defence counsel also argued that Abiodun Agbele, who allegedly played a central role in the transactions, was not charged alongside Fayose, weakening the EFCC’s case.
The prosecution counsel, Rotimi Jacobs, prayed the court to dismiss the no-case submissions, citing suspicious transactions and testimony from EFCC investigators.
“Why would Fayose not use his personal bank account for transfers if the funds from the NSA were legitimate?” Jacobs questioned.
The court reserved ruling on the matter until July 10 and granted Fayose leave to travel abroad for medical treatment.