The Federal High Court in Lagos yesterday reserved judgment in the 12-year-old trial of former Oyo State Governor Rashidi Ladoja for alleged N4.7 billion fraud.
The Economic and Financial Crimes Commission (EFCC) re-arraigned Ladoja last November 5, following an amendment to the charge.
The commission first charged him with converting the money from the state’s treasury to his personal use in 2007.
The case went up to the Supreme Court due to interlocutory appeals filed by Ladoja.
Ladoja was re-arraigned along with his former Finance Commissioner 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.
The EFCC alleged that the former governor allegedly did not remit N1.9 billion realised from the sale of the shares.
The prosecution and the defence yesterday adopted their final written addresses and made closing arguments.
Ladoja’s lawyer, Mr Bolaji Onilenla, contended that the charge was defective and should therefore be dismissed.
“Where the essential elements of a charge are missing, such a charge is a nullity because in the first place, there is no charge and not even an amendment can cure it.
“So, we urge Your Lordship to, on the basis of these objections, quash the charges. The court is urged to discharge and acquit the first defendant,” Onilenla said.
He added that the EFCC failed to prove its allegation that Ladoja sent £600,000 from the state’s coffers to his daughter, Bimpe Ladoja, who was in London at the time.
“Vital witnesses were not called; all the issues raised about the competence of the charges were not addressed. I sympathise with the prosecution.
“On the whole, the prosecution has failed to prove its case beyond reasonable doubt. On the other hand, the first defendant has discharged the burden placed upon him by this court. The prosecution has proved nothing,” Onilenla said.
Akanbi’s lawyer, Mr Adeyinka Olumide-Fusika (SAN), said the case was full of inconsistencies, adding that the testimonies of the third, fourth and sixth prosecution witnesses were contradictory.
“If you do not have evidence against a party, why drag him to court? I am urging Your Lordship to courageously do justice between the parties and say if you don’t have evidence, don’t charge people to court,” Olumide-Fusika said.
The lawyer averred that Ladoja’s ex-aide, Atanda, whom the EFCC made a witness, was supposed to be on trial, rather than Ladoja and Akanbi.
“I urge Your Lordship to discharge and acquit my client because there is no shred of evidence against him. He is guilty of nothing,” Olumide-Fusika said.
But Olabisi Oluwafemi argued that the prosecution proved the essential elements of the offences it charged the accused with.
“We pray the court to convict the defendants guilty as charged,” he said.
The EFCC accused the defendants 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’s coffers in 2007 and sent it to Bimpe Ladoja in London.
Ladoja also allegedly bought an armoured Land Cruiser jeep valued at N42 million for himself with public funds.
The anti-graft agency 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 buy a property, named Quarter 361 in Ibadan, the Oyo State capital.
The alleged offence, the 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 former governor held the reins from May 29, 2003 to January 12, 2006, when he was impeached. On November 1, 2006, the Appeal Court in 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.
But he lost a re-election bid.
Justice Mohammed Idris thanked parties for ensuring that the matter “has been finally concluded.”
“The burial is the judgment. It will be buried finally,” the judge said.
The judgment day would soon be communicated to the parties, Justice Idris added.
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