N4.7bn fraud: Ladoja”s trial continues tomorrow
Justice Mohammed Idris sitting at the Federal High Court in Lagos has adjourned until tomorrow the continuation of criminal trial of former Oyo State Governor Rashid Ladoja. Ladoja and a former Commissioner for Finance in the state, Waheed Akanbi are standing trial over N4.7 billion fraud. The accused were charged with […]
Justice Mohammed Idris sitting at the Federal High Court in Lagos has adjourned until tomorrow the continuation of criminal trial of former Oyo State Governor Rashid Ladoja.
Ladoja and a former Commissioner for Finance in the state, Waheed Akanbi are standing trial over N4.7 billion fraud.
The accused were charged with conspiring to siphon and launder N4.7 billion from the coffers of Oyo State Government.
The EFCC also accused them of converting N1.9 billion belonging to the state for their personal use through the account of a company known as Heritage Apartments Ltd.
The anti-graft agency claimed that the accused retained the money sometimes in 2007 in spite of their knowledge that it was proceeds from a criminal activity.
Ladoja was accused of removing 600,000 pounds from the state coffers in 2007 and sent to his daughter, Bimpe, in London.
In addition, the ex-governor was accused of converting N42 million belonging to the state for his personal use and subsequently used same to purchase an armoured Land Cruiser.
The EFCC added that Ladoja converted N728 million and N77 million at different times in 2007 for his personal use and transferred same to Bistrum Investments for the purchase of a property in Ibadan.
The offences contravened the provisions of Sections 14, 16, 17 (a) and 18 (1) of the Money Laundering (Prohibition) Act, 2004, according to the EFCC.
A prosecution witness, Mr Abubakar Madaki, at the resumed trial on Wednesday told the Court that series of investigations were conducted on fraud allegations against former Oyo State Governor, Rasheed Ladoja.
The prosecution counsel, Mr Oluwafemi Olabisi, is to continue the examination of Madaki.