Oyo director’s absence stalls Ladoja’s money laundering trial
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The absence of a director in the Oyo State Government Civil Service on Monday stalled the trial of former Governor of the state, Rashidi Ladoja, at the Federal High Court in Lagos.
The Economic and Financial Crimes Commission (EFCC) re-arraigned Ladoja for allegedly converting N4.7billion from the state treasury to his personal use, eight years after he was first arraigned on the offence.
Prosecuting counsel, Mr. Olabisi Oluwafemi said he was unable to bring his next witness to court because he was on a state assignment.
He said: “Our next witness is a director in the service of the Oyo State Government. 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, Tuesday and Wednesday.
“He is available in Lagos and he has assured me that he will be available on Tuesday.
Defence counsel, Messrs Bolaji Onilenla and Adeyinka Olumide-Fusika, did not object to the request for an adjournment.
Ladoja was charged along with Waheed Akanbi on eight- count charge of money laundering and unlawful conversion of public funds.
EFCC accused them of converting N1,932,940,032.48 belonging to Oyo State to their personal use through the Guaranty Trust Bank (GTB) account of a company, Heritage Apartments Limited, despite knowing that it was proceed of crime.
The prosecution said 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.
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 Limited, which he nominated to help him purchase a property named Quarter 361 in Ibadan, Oyo State.
The alleged offence, EFCC said, contravenes sections 17(a) and18 (1) of the Money Laundering (Prohibition) Act, 2004 and punishable under sections 14(1), 16(a) (b) and 18(2).
Ladoja and Akanbi pleaded not guilty to the charges.
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