A Federal High Court in Lagos will on July 10, 2025, decide whether former Ekiti State Governor, Ayodele Fayose, will be required to open his defence in the ongoing ₦6.9 billion money laundering case brought against him by the Economic and Financial Crimes Commission (EFCC).
Sources told SaharaReporters on Wednesday that there are moves by powerful figures within President Bola Tinubu’s administration to frustrate the high-profile case, despite what the prosecution has described as overwhelming 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,” one 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 bordering on money laundering and fraud. The charges include the alleged diversion of ₦2.2 billion 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.
According to EFCC, the ₦2.2 billion was part of a broader ₦6.9 billion disbursed from ONSA for phantom security contracts. The money was allegedly funneled through Sylvan McNamara Limited — a shell company controlled by Obanikoro — then airlifted and delivered in cash to Fayose, who used the funds to acquire luxury properties in Lagos and Abuja.
During the last hearing on May 19, 2025, Justice Chukwujekwu Aneke reserved ruling after hearing arguments from the defence, which insisted no prima facie case had been made.
The prosecution, however, presented witness testimonies and documents detailing how Fayose allegedly laundered the money, including through proxy companies and property purchases in the names of associates.
Among the properties identified were four chalets in Victoria Island allegedly bought for ₦1.3 billion, a house on Osun Crescent in Abuja bought for ₦200 million, and another Maitama property bought for ₦270 million.
PDP officials who testified said the party raised its campaign funds locally and did not receive money from ONSA. Fayose, however, claimed the money was legitimate campaign donations and any unspent funds were retained in party accounts.