N4.7bn fraud: Ladoja to know fate September 27

Following the close of its N4.7bn fraud case against former governor of Oyo state, Rasheed Ladoja by the Economic and Financial Crimes Commission (EFCC), Justice Mohammed Idris has adjourned the case until September 27 for adoption of written addresses.

Ladoja had been charged with N4.7billion fraud before a federal high court in Lagos. He was charged alongside Waheed Akanbi, a former commissioner for finance in the state.

The accused were brought before Justice Mohammed Idris on December 14, 2016, for allegedly siphoning and laundering N4.7 billion from the coffers of Oyo state government.

Both pleaded not guilty to the eight-count charge preferred against them by the EFCC.

At the resumed trial on Tuesday, counsel to the accused, Adeyinka Olumide-Fusika and Bolaji Onilenla, told the court that they intended making a “no case submission” and prayed the court for adjournment.

The EFCC had accused Ladoja and Akanbi of converting N1.9 billion belonging to the state for their personal use through a company known as Heritage Apartments Ltd.

Ladoja was also accused of removing 600,000 pounds from the state coffers in 2007 which he allegedly sent to his daughter 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 car.

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 EFCC said the offences contravened sections 14, 16, 17 (a) and 18 (1) of the Money Laundering (Prohibition) Act, 2004.