A Federal High Court in Lagos will on July 10, 2025, determine whether former Ekiti State Governor, Ayodele Fayose, must open his defence in the ₦6.9 billion money laundering case filed against him by the Economic and Financial Crimes Commission (EFCC).
Sources told Journalists on Wednesday that influential figures within President Bola Tinubu’s administration are allegedly working behind the scenes to undermine the high-profile prosecution, despite what the EFCC claims is compelling evidence.
“There’s a coordinated plan to frustrate the prosecution so that the court is left with no choice but to dismiss the charges for lack of diligent prosecution,” a source said. “The government just doesn’t want this case to proceed.”
Fayose and his company, Spotless Investment Ltd, were re-arraigned in May 2019 on an 11-count charge involving money laundering and fraud. The case includes allegations that ₦2.2 billion was diverted from the Office of the National Security Adviser (ONSA) through former Minister of State for Defence, Senator Musiliu Obanikoro, during the 2014 Ekiti governorship election.
The EFCC alleges that the ₦2.2 billion formed part of a wider ₦6.9 billion disbursed from ONSA for fictitious security contracts. According to the Commission, the funds were funneled through a shell company, Sylvan McNamara Limited, controlled by Obanikoro, and later airlifted and delivered in cash to Fayose. The money was reportedly used to acquire luxury properties in Lagos and Abuja.
At the last hearing on May 19, 2025, Justice Chukwujekwu Aneke reserved ruling after hearing arguments from Fayose’s legal team, which argued that the prosecution had failed to establish a prima facie case.
The EFCC, however, presented witness testimonies and documentation showing how the money was allegedly laundered through proxy firms and used to purchase high-value assets.
Identified properties include four chalets in Victoria Island reportedly bought for ₦1.3 billion, a house on Osun Crescent in Abuja purchased for ₦200 million, and another property in Maitama acquired for ₦270 million.
Officials of the Peoples Democratic Party (PDP) who testified in court said the party funded its 2014 campaign through local donations and denied receiving money from ONSA. Fayose maintained that the funds were legitimate campaign contributions and that any unused money remained in party accounts.
