Former Ekiti State Governor, Ayodele Fayose, has asked the Federal High Court in Ikoyi, Lagos to dismiss the N2.2 billion fraud case filed against him by the Economic and Financial Crimes Commission (EFCC), insisting he has "no case to answer."

Fayose's legal team, led by Chief Kanu Agabi (SAN) and Olalekan Ojo (SAN), made a no-case submission before Justice Chukwujekwu Aneke, arguing that the prosecution's witnesses and evidence were merely speculative and insufficient to warrant the defendants' testimony.

The EFCC had filed an 11-count charge against Fayose and Spotless Investment Limited on October 18, 2018. The anti-graft agency alleged that approximately N2.2 billion was withdrawn from Sylvan Mcnamara Limited, a company allegedly linked to the Office of the National Security Adviser (ONSA) under Col. Sambo Dasuki (rtd), and delivered by Senator Musiliu Obanikoro for Fayose's benefit during the 2014 Ekiti governorship election.

However, Senator Obanikoro testified under oath that the funds he delivered were proceeds from donations, fundraising, and campaign launch activities. As Chairman of various campaign committees, he stated he was in custody of the money. Obanikoro also revealed he was coerced and maltreated during EFCC investigations and clarified that he was neither a director nor a shareholder in Sylvan Mcnamara.

Chief Agabi highlighted that Abiodun Agbele, allegedly the conduit for disbursing the funds, was never charged despite his central role in the case. Documents presented in court showed a list of beneficiaries from Sylvan Mcnamara's account, but Fayose's name was not among them.

The defence also emphasized that nine bank officials testified during the trial, confirming that all funds in the defendants' accounts were considered legitimate and were not flagged by regulatory agencies.

Regarding allegations that Fayose's name appeared on some bank teller slips, the defence maintained that the name "Ayo" written on the tellers was not personally written by Fayose. The then Assistant General Manager of Zenith Bank Plc, Abiodun Adekoya Oshode, testified: "I did not see his Excellency filling or lodging in any money either at Ado-Ekiti or Akure Branch of the Bank... I cannot say positively that the deposit slips with the name Ayo was made by the 1st Defendant."

Similarly, the bank's Akure branch manager, Alade Oluseye, confirmed: "I did not at any time see the 1st defendant (Fayose) filling any teller at Akure branch and the teller unit are under my supervision."

The EFCC's investigating officer, Muhammed Madaki, admitted under cross-examination that their investigation did not reveal any form of conversation between Fayose and either Col. Dasuki or Senator Obanikoro.

Further strengthening Fayose's case, the EFCC subpoenaed a PDP official, Mr. Ademola Famokun, who testified that the funds were party donations and revenues from sales of nomination forms and party cards, managed by Obanikoro and delivered to Fayose for campaign purposes. Famokun also stated that PDP activities were not funded by the National Security Adviser.

Justice Aneke has adjourned the matter to July 10, 2025, for ruling on the no-case submission.