Alleged N4.7bn Fraud: Ladoja’s Case Adjourned As Witness Fails To Appear
The Federal High Court in Lagos has adjourned further proceedings till Tuesday in the case of a former governor of Oyo State, Rashidi Ladoja, who is being prosecuted for an alleged fraud of N4.7bn.
The case, which was slated for continuation of trial on Monday, could not proceed due to the absence of the prosecution witness.
When the case was called up at 1pm on Monday, the prosecutor, Mr. Olabisi Oluwafemi, told the judge that though the matter was slated for continuation of trial, he was unable to bring his next witness to court.
According to him, the next witness, a director in the Oyo State Government Civil Service, was otherwise busy attending to an official assignment.
Oluwafemi said, “My lord, the matter is for continuation of trial; but unfortunately, our next witness is a director in the service of the Oyo State Government. I got information that he’s unavoidably absent.
“He is currently leading the Oyo State team (in a meeting) with the World Bank. The meeting is ongoing in Lagos. That is why he is not here.
“I will be praying My lord for an adjournment; the matter is for today, tomorrow and Wednesday.
“He is available in Lagos and he has assured me that he will be available to tomorrow.”
The defence counsel, Messrs Bolaji Onilenla and Adeyinka Olumide-Fusika, did not object to the plea for an adjournment.
In the circumstance, Justice Mohammed Idris adjourned the case to Tuesday.
Ladoja is being prosecuted alongside a former Commissioner for Finance in Oyo State, Waheed Akanbi.
They were re-arraigned on December 15, 2016 on eight counts before Justice Idris.
The charges against Ladoja and Akanbi border on money laundering and unlawful conversion of funds belonging to Oyo State to their own.
In one of the counts, Ladoja and Akanbi were accused of converting a sum of N1,932,940,032.48 belonging to Oyo State to their own, using a Guaranty Trust Bank account of a company, Heritage Apartments Limited.
The Economic and Financial Crimes Commission claimed that they retained the money sometime in 2007, despite their knowledge that it was proceeds of a criminal conduct.
In another instance, Ladoja was accused of removing a sum of £600,000 from the state coffers in 2007 and sent it to Bimpe Ladoja, who was at the time in London.
The ex-governor was also accused of converting a sum of N42m belonging to the state to his own and subsequently used it to purchase an armoured Land Cruiser jeep.
He was also accused of converting a sum of N728,600,000 and another N77,850,000 at separate times in 2007 to his own.
The EFCC claimed that Ladoja transferred the N77,850,000 to one Bistrum Investments, which he nominated to help him purchase a property named Quarter 361, Ibadan, Oyo State.
The EFCC told the court that Ladoja and Akanbi acted contrary to sections 17(a) and 18(1) of the Money Laundering (Prohibition) Act, 2004 and were liable to be punished under sections 14(1), 16(a) (b) and 18(2) of the same Act.
The defendants, however, pleaded not guilty upon the charges being read to them.
