The Economic and Financial Crimes Commission (EFCC) has announced plans to appeal the acquittal of former Ekiti State Governor Ayodele Fayose, who was discharged by the Federal High Court in Ikoyi, Lagos, on Wednesday.
The EFCC, in a statement posted on its official X handle, said it is reviewing the ruling and briefing its legal team to appeal the judgment.
The Commission reaffirmed its commitment to the rule of law and expressed determination to challenge the acquittal.
The court ruled that the prosecution failed to establish a prima facie case against Fayose and his company, Spotless Investment Limited.L
Fayose was re-arraigned on July 2, 2019, alongside his company on an 11-count charge bordering on money laundering and theft amounting to N6.9 billion.
The EFCC alleged that Fayose received N1.2 billion and $5 million in cash from Senator Musiliu Obanikoro for his 2014 gubernatorial campaign and laundered over N1.6 billion through certain companies.
Justice Chukwujekwu Aneke, in his judgment, held that the prosecution failed to prove any link between Fayose and the alleged offenses.
The judge criticised the credibility of key witnesses, including Senator Obanikoro, and noted inconsistencies in the testimonies of Diamond Bank staff.
He also ruled that Fayose, as a private citizen at the time of his arraignment, was not subject to asset declaration obligations.
Fayose, visibly emotional, broke down in tears after the verdict, thanking God for his freedom after seven years of trial.
He also extended gratitude to his legal team.
