EFCC to Appeal Court Ruling Acquitting Ex-Governor Fayose of ₦6.9 Billion Fraud Charges
The Economic and Financial Crimes Commission (EFCC) has announced its intention to appeal the acquittal of former Ekiti State Governor, Ayodele Fayose, who was discharged on Wednesday by Justice Chukwujekwu Aneke of the Federal High Court in Ikoyi, Lagos. Fayose had been on trial for alleged involvement in a ₦6.9 billion fraud and money laundering scheme.
In a statement issued shortly after the judgment, the EFCC confirmed that it is currently reviewing the court’s decision and has begun preparations to challenge the ruling at the Court of Appeal.
“Sequel to the judgment of Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, on Wednesday, July 16, 2025, acquitting and discharging a former Governor of Ekiti State, Mr. Ayo Fayose, from an alleged money laundering case preferred against him by the Economic and Financial Crimes Commission, EFCC, the Commission wishes to state that it is already studying the ruling and preparing for an appeal,” the statement read.
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Fayose and his company, Spotless Investment Limited, were accused by the EFCC of laundering ₦6.9 billion. The case, which spanned several years, was punctuated by lengthy legal arguments and multiple adjournments.
When proceedings resumed on Wednesday, the court ruled in Fayose’s favour, discharging and acquitting him of all charges. The judge upheld his no-case submission, stating that the EFCC had failed to present sufficient evidence to warrant a trial and had not established a prima facie case.
The court concluded that the prosecution’s case lacked the necessary proof to proceed, thereby allowing Fayose to avoid entering a defence.
“The EFCC reaffirms its commitment to the rule of law as it briefs its counsel to appeal the judgment,” the agency said.
This legal outcome follows a series of recent political developments involving Fayose. Weeks earlier, President Bola Tinubu held a closed-door meeting with the former governor and other prominent members of the Peoples Democratic Party (PDP) at the Presidential Villa in Abuja. Among those present were former Governors Samuel Ortom of Benue State and Okezie Ikpeazu of Abia State, alongside Minister of the Federal Capital Territory, Nyesom Wike.
Fayose had also visited President Tinubu at his Lagos residence during the Sallah celebrations on June 9. After that visit, he told journalists that he had come to encourage the president and praised Tinubu’s leadership and economic policies. Despite his affiliation with the PDP, Fayose emphasized his long-standing belief in Tinubu’s capability.
Meanwhile, on June 25, 2025, SaharaReporters reported concerns that the Nigerian government was allegedly working behind the scenes to derail Fayose’s trial. According to sources close to the matter, there were fears that prosecutorial agencies had been pressured to let the case collapse, despite what was described as “overwhelming” evidence.
Fayose, who governed Ekiti State between 2014 and 2018, was initially arraigned in 2018 and re-arraigned on July 2, 2019, alongside Spotless Investment Limited. The EFCC had charged him with 11 counts of money laundering and misappropriation of public funds.
One of the key allegations was that Fayose received ₦2.2 billion from the Office of the National Security Adviser (NSA) during the 2014 Ekiti governorship election. Prosecutors claimed the money, intended for election logistics, was diverted for personal use.
With Wednesday’s ruling, the legal chapter may have ended at the Federal High Court, but the EFCC’s decision to appeal means the case could soon return to the spotlight at the appellate level.
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