The Youth Team bowed out of the FA Youth Cup after suffering a 2-0 defeat to an impressive Nottingham Forest side at The City Ground.
Goals from Oliver Burke and Tyler Walker were the difference between the two sides, and Forest will now host either Manchester United or Tottenham Hotspur in the Quarter-Final.
The opening chance of the game fell to midfielder Matthew Cash five minutes in, who saw his left-foot volley drift wide of Aghayere's post.
As the Clarets struggled to get a rhythm going in the opening stages, Forest continued to pressure.
And their pressure was nearly rewarded with a goal in the 18th minute when Walker’s snapshot inside the box looked destined for the bottom corner, before Aghayere pulled off a wonderful save low to his right.
Forest did go on to take the lead though when Burke tapped in at the far post from a deep corner shortly before the half hour mark. Burke, who made his first-team debut for a Forest earlier this year, couldn't miss after Burnley failed to clear the initial cross.
It took the opening goal to wake the Clarets. From the restart, the dangerous Bradley Jackson pounced on a quick Khius Metz free-kick, before weaving past the Reds' defence and curling a shot just wide.
Moments later the Clarets had a shout for a penalty turned down. Ntumba Massanka lead the appeals after seeing his goalbound effort blocked by what he suspected was an arm, but referee John Brooks waved play on.
Andreas Bianga had their final attempt of the first half a minute from the break. Jackson yet again beat his man and headed towards the box before pulling back to the Frenchman, who couldn't find the bottom right corner as Tim Erlandsson comfortably gathered between the sticks.
Minutes after the restart City nearly doubled their lead. However Aghayere pulled off a fine save from Walker's curling shot. It appeared to be creeping into the far corner, but the Spaniard's outstretched leg tipped it wide.
After a quiet spell in the game where chances fell few and far between, Forest's second came out of nowhere in the 65th minute. Following a Clarets' goal kick, the ball bounced back and fell nicely to Walker, who found himself through on goal and he made no mistake - firing pays the hapless Aghayere.
Aghayere then went on to pull off two fantastic saves within five minutes of the second goal. The first to deny goalscorer Burke saving at full stretch, before sticking out a long leg to prevent Walker grabbing his second of the game.
After that, Forest were more than happy to see the game out, as they sat back to prevent any potential comeback from the Clarets, before Brook's final whistle ended Burnley's run in the competition.
Burnley: Aghayere; El-Fitouri, Hobson, Azam, Nugent; Hill (Frost 60), Bianga, Wilson, Jackson; Metz (Crawford 76), Massanka (Dolling 72)
Subs not used: Dixon, Grogan.
Yellow: Azam (55)
Nottingham Forest: Erlandsson; Yates, Worrall, Lacovitti, Kelly; Burke, Crookes, Cash, Gamblem; McDonagh (Walton 80), Walker
Subs not used: Dearle, Otim, Austin, Nielsen.
Goals: Burke (27), Walker (65).
Yellow: Gamblen (36)