LADOJA, FORMER GOVERNOR OF OYO STATE ACQUITTED OF N4.7BN CORRUPTION CASE

Justice Mohammed Idris has acquitted former Oyo State Governor Chief Rashidi Ladoja over alleged N4.7billion fraud, while faulting the prosecution’s case, as being riddled with contradictions.

The judge, in a 250 page judgment, described EFCC’s case as lacking credible evidence – maintaining that the prosecution failed to prove a single ingredient in the 11-count charge. The court therefore found the defendants not guilty on all the 11 counts – after examining “914 tendered documents forensically” and other evidence.

Justice Idris was the third judge to handle the case following Justices I. M. Sanni and A. R. Mohammed. Twelve witnesses were called in the course of the trial, six each by the prosecution and defence.

It would be recalled that the Economic and Financial Crimes Commission (EFCC) re-arraigned Ladoja last November 5 following an amendment to the charge. The case went up to the Supreme Court due to interlocutory appeals filed by Ladoja.

Ladoja was thereafter re-arraigned along with his former Commissioner for Finance Waheed Akanbi on 11 counts of money laundering and unlawful conversion of public funds. In the amended charge, EFCC added that Ladoja allegedly “compelled” a broker to sell the state’s shares.

EFCC alleged that the former governor allegedly did not remit N1.9billion realised from the sale of the shares. EFCC accused the defendants of converting N1,932,940,032.48 belonging to Oyo to their personal use through the Guaranty Trust Bank account of a company, Heritage Apartments Limited, despite knowing that it was proceed of crime. The prosecution claimed that Ladoja removed £600,000 from the state coffers in 2007 and sent it to Bimpe Ladoja in London. Ladoja also allegedly bought an armoured Land Cruiser jeep with N42million for himself using public funds.

Specifically, EFCC said he converted N728,600,000 and another N77,850,000 at different times in 2007, and allegedly transferred N77, 850,000 to Bistrum Investments, which he nominated to help him purchase a property named Quarter 361 in Ibadan, Oyo State capital.

The alleged offence, EFCC said, contravenes sections 17(a) and18 (1) of the Money Laundering (Prohibition) Act, 2004, punishable under sections 14(1), 16(a) (b) and 18(2). Ladoja and Akanbi pleaded not guilty.

The prosecution and the defence adopted their final written addresses and made closing arguments on January 21, 2019

Justice Idris, who was elevated to the Court of Appeal, concluded the trial through a fiat.

Ladoja was governor from May 29, 2003 to January 12, 2006 when he was impeached. On November 1, 2006, the Appeal Court Ibadan, declared the impeachment null and illegal.

The Supreme Court upheld the decision on November 11, 2009, and Ladajo resumed office on December 12, 2006. He, however, lost his re-election bid.