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Home | Court Adjourns Ayodele Fayose’s Trial

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Court Adjourns Ayodele Fayose’s Trial

Published: June 14, 2025
Last updated: June 14, 2025
4 Min Read
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Court Adjourns Ayodele Fayose’s Trial
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A Federal High Court in Lagos on Wednesday, adjourned the trial of embattled former Ekiti State Governor, Ayodele Fayose, who is accused of fraud and money laundering, until March 3.

The court further adjourned the case until March 3 at the resumed trial on Wednesday, which was originally scheduled to run through Friday, Feb.25, due to the absence of the trial Judge.

The Economic and Financial Crimes Commission (EFCC) is prosecuting Fayose on N6.9 billion in fraud and money laundering charges.

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On October 22, 2018, he was arraigned before Justice Mojisola Olatotegun, along with his company, Spotless Investment Ltd, on 11 counts of fraud and money laundering.

He had pleaded not guilty to the charges and was granted bail in the amount of N50 million with sureties in the same amount on October 24, 2018.

The defendant was later re-arraigned before Justice Chukwujekwu Aneke on July 2, 2019, after the case was withdrawn from Justice Olatoregun as a result of the EFCC’s petition.

He had also pleaded not guilty to the charges and was allowed to remain on the previous bail while the case was adjourned for trial.

The commission has since presented its case to Justice Aneke and is still questioning witnesses.

At the last adjourned date in December 2021, the EFCC called its 11th witness, one Mrs. Joanne Tolulope, who described how Abiodun Agbele, a Fayose associate, purchased properties worth millions.

The trial will now resume on March 3, the next adjourned date.

Before Justice Olatoregun, the prosecution called witnesses from several commercial banks, as well as a former Minister of State for Defence, Sen. Musiliu Obanikoro.

According to the charge, on June 17, 2014, Fayose and one Abiodun Agbele were accused of taking possession of N1.2 billion for the purpose of funding his gubernatorial election campaign in Ekiti, a sum they reasonably ought to have known was part of crime proceeds.

Fayose was accused of receiving a cash payment of $5 million (N1.8 billion) from then-Minister of State for Defence, Sen. Musiliu Obanikoro, without going through any financial institution.

He was also accused of keeping N300 million in his account and seizing control of a total of N622 million, which he had a reasonable expectation was part of crime proceeds.

Fayose was accused of convincing De Privateer Ltd and Still Earth Ltd to keep a total of N851 million that they should have known was part of criminal proceeds.

Furthermore, the defendant was accused of using approximately N1.6 billion to acquire properties in Lagos and Abuja, sums he had a reasonable expectation of knowing we are part of the proceeds of crime.

He was also accused of using N200 million to acquire a property in Abuja in the name of his elder sister Moji Oladeji, a sum he should have known also formed crime proceeds.

According to the EFCC, the offenses violate Sections 15(1), 15(2), 15(3), 16(2)(b), 16(d), and 18(c) of the Money Laundering Prohibition Act 2011.

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