Justice Babatunde Candide-Johnson struck out the suit on grounds of lack of diligent prosecution.
Azibola had also filed a similar motion before Justice O. O Goodluck of an Abuja High Court which was also dismissed.
It was thereafter that he filed two separate motions before Justice C.M.A. Olatoregun of the Federal High Court, Lagos and Justice Candide-Johnson.
On June 9, Azibola and his wife, Stella, were arraigned at the Abuja Division of the Federal High Court, on a seven-count criminal charge bordering on an alleged $40million contract scam.
Trial Justice Nnamdi Dimgba gave the defendants bail in the sum of N500 million each, and two sureties in like sum.
Before their arraignment, Azibola, who was under detention at the EFCC, asked the Lagos Court for an order nullifying and setting aside the remand order obtained by the commission.
He also asked for an order of perpetual injunction restraining the EFCC or any person whatsoever acting for/on behalf of the Commission from arresting or detaining him and demanded special damages in the sum of N200, 000,000 (Two Hundred Million Naira Only).
According to the anti-graft agency, between 2012 and 2015, Colonel Sambo Dasuki allegedly awarded fictitious contracts to the tunes of N2.2 billion, $1.6 billion dollars and €9,905,477.00 respectively to Azibola and his companies and proxies.
Also the sums of $40 million and N650 million were said to have been traced to the bank account of Azibola as monies paid by the former NSA.