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Tag: Christopher Alao-Akala

  • N11.5b fraud: Court adjourns Alao-Akala’s case due to witness’ absence

    The trial of former Oyo State Governor Christopher Alao-Akala and two others for alleged fraud was yesterday adjourned till May 2, 2019 due to absence of a prosecution witness.

    The witness was to give evidence in support of the 11-count charge preferred against the accused by the Economic and Financial Crimes Commission (EFCC).

    Justice Olalekan Owolabi of Oyo State High Court, sitting in Iyaganku, Ibadan, granted the EFCC’s request after its counsel, Dr. Ben Ubi, told the court that the second witness, Mr. Abdulrasheed Bawa, was unable to make it to the court.

    Bawa is also the current head of operations in the commission’s Port Harcourt zonal office.

    The former governor is standing trial alongside the former Commissioner for Local Government and Chieftaincy Matters during his tenure, Hosea Agboola and an Ibadan-based businessman, Femi Babalola.

    The charge against them borders on conspiracy, awarding a contract without budgetary provision, obtaining by false pretence, acquiring property with money derived from an illegal act and concealing the ownership of such property and others.

    Among the offences, according to the information on the court papers, was a road contract worth N8.5 billion, which Alao-Akala awarded between 2007 and 2009 to Pentagon Engineering Services, Babalola’s company, allegedly without budgetary provision.

    The said contract was executed on behalf of the 33 local governments in the state.

    Also in the charge is the allegation that the former governor ordered the supply of drilling machines on behalf of the 33 local governments in the state to the tune of N3.5 billion.

    Apart from the allegation of conspiring with Agboola to withdraw N2.9 billion from the Oyo State Local Government Joint Account, the anti-graft agency is equally prosecuting the former governor for illegally acquiring some property on Old Bodija road, off Rotimi Williams road, when he was in office.

    The offences were said to have contravened Section 22 (4) of the Corrupt Practices and Other Related Offences Act and Section 1 (18) of the Advanced Fee Fraud Act.

    The case was originally filed in 2011 and has witnessed adjournments due to the volume of evidences and witnesses prepared to reinforce the prosecution’s argument.

    Though, the court was to continue with the trial yesterday. But that could not happen since the witness billed for cross-examination was not present.

    Dr. Ubi told the court that the witness was unable to attend the proceeding because he was involved in election duties.

    “My lord, the reason our witness is not in court today is because he is involved in the election processes in Rivers State,” he said.

    He prayed the court for another date.

    Counsel to the first and third defendants, Hakeem Afolabi (SAN) and his counterpart holding the brief for the second defendant, Richard Ogunwole (SAN), did not oppose the prayer.

    The judge then adjourned the matter till May 2, 2019 for continuation of trial as he ordered the prosecution to make its witnesses available at the next date.

  • Alleged shares fraud: N180m not remitted to Oyo – Witness

    An Economic and Financial Crimes Commission (EFCC) witness, Yinka Fatoki, Tuesday told the Federal High Court in Lagos that N180million, which was part of proceeds of shares sold by the Oyo State Government under Chief Rashidi Ladoja, was allegedly not remitted to the state.

    The court also heard that the state government sent a petition to the EFCC following suspicions of fraudulent activities in the sale of the state’s shares in seven banks by the Ladoja administration.

    Testifying in Ladoja’s trial for alleged money laundering, Fatoki, Executive Secretary, Oyo State Bureau of Investment and Public, Private Partnership, said state officials allegedly got “gifts” running into millions of naira from the portfolio manager.

    The witness recalled that in 2007, while he was an Acting Director of Investment Promotion in the Ministry of Commerce, and while serving as the Desk Officer for Oyo’s holdings in public quoted equities, the state executive council reached a decision to sell off the state’s shares.

    “In 2007, there was a decision by the state to sell some of the shareholdings in about seven banks, including First City Monument Bank, UBA, Skye Bank, Stanbic IBTC, Standard Chartered Bank and Guarantee Trust Bank. Fountain Securities Ltd was appointed the Portfolio Manager,” he said.

    He said the Ministry of Commerce was mandated to generate the letters of instruction to liquidate the shares, which was carried out.

    He said after the sale of the shares, Fountain Securities remitted the funds in three installments to the state.

    Fatoki said the shares were sold at a discount, with the proceeds amounting to N4.3billion, adding that not all the shares were sold.

    The witness said the Christopher Alao-Akala administration ordered an investigation on the transaction, and a stockbroker, GTI Securities, was appointed to review Fountain Securities’ report on the transactions.

    Fatoki said N180million, which was part of the proceeds of the shares sales, was not remitted to the state.

    “GTI submitted its report to the state government. The report was reviewed and the state decided to cause a petition to be forwarded to the EFCC. I was named in the petition as one of the suspects,” the witness said.

    Under cross examination by Ladoja’s lawyer Mr Bolaji Onilenla, the witness said he was not part of those who authorised the sale of the shares.

    He said Fountain Securities had been the state’s portfolio manager since 2001.

    “They were initially contracted by the Lam Adesina administration for a three-year period, which was rolled over by the Ladoja administration,” he said.

    He said Fountain Securities gave cash gifts to government officials. On one occasion, he said the portfolio manager brought four cheques of N5million each.
    “The commissioner reached out to the political functionaries while I dealt with civil servants. The gifts were unrelated to the sale of Oyo State’s shares,” he said.

    EFCC re-arraigned Ladoja for allegedly converting N4.7billion from the state treasury to his personal use, eight years after he was first arraigned.
    Ladoja was charged along with his former Commissioner for Finance Waheed Akanbi on eight counts of money laundering and unlawful conversion of public funds.

    EFCC accused them of converting N1, 932,940,032.48 belonging to Oyo to their personal use through the Guaranty Trust Bank 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, which he nominated to help him purchase a property named Quarter 361 in Ibadan, Oyo State capital.

    The alleged offence, 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.

    Ladoja was governor from May 29, 2003 to January 12, 2006 when he was impeached. On November 1, 2006, the Appeal Court 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. He, however, lost a re-election bid.

    Justice Mohammed Idris adjourned until April 12 and 13 for continuation of trial.

    Read Also: EFCC arraigns ex-INEC staff in court for alleged N731m fraud

  • My followers and I remain in APC – Akala

    My followers and I remain in APC – Akala

    Former governor of Oyo State, Otunba Christopher Alao-Akala has debunked the rumour that he has made a return to  the People’s Democratic Party ( PDP ) from the ruling, All Progressive Congress ( APC ) in the state.

    Speaking at the weekend in Ogbomosho, venue of an empowerment program by a member of the State Assembly representing Ogbomoso North State Constituency, Hon. Olawumi Oladeji, Akala restated that himself and all his numerous followers are still card carrying and committed members of the ruling party APC.

    The speculations of Akala decamping came after the former governor, upon his return from a London trip, was visited in his New Bodija, Ibadan residence by his former boss, Senator Rashidi Ladoja.

    Akala had reportedly held a political meeting with the incumbent governor, Senator Abiola Ajimobi during the London trip and other top political heavy weights in the state.

    Recalled that the caretaker chairman of the PDP had in a renewed bid to lure back former members to the PDP had visited the Bodija residence of Alao-Akala, where he was received by the supporters as the former governor was away outside the country at the time.

    But, the immediate past Oyo state governor who wore a cap with the inscription, ‘APC, Change ‘ enjoined the people not to be deceived by the gimmicks of scheming politicians about his touted return to the opposition party.

    He said, “I’m not in other political party than APC and for the sake of doubt, I’m saying my followers and I are still in APC. Don’t let anybody deceive you.

    “From the onset, Ogbomoso has always aligned with the ruling party at the federal. That is the reason we in Ogbomoso remains in APC with all my followers.”

    When probed on his political aspirations in the 2019 general elections, the former governor said it is too early to talk about that. 

    “We don’t have to talk about 2019 in 2017. We are on course to get our acts together. Everything is in God’s hands and when we get to the bridge, we shall cross it”, he said. 

    Akala therefore expressed his joy over the success of the state honourable member’s gesture of empowering her constituents. He said the honourable member is her political daughter who has been tested and passed noting that she used her personal money to fund the empowerment program because “Constituency allowance was not released to the members of the house.”

    While speaking at the event, Speaker of the state Assembly, Rt. Hon. Michael Adeyemo who was represented by his deputy, Hon. Musa Abdulwasi said the donor of the empowerment materials has the love of Ogbomoso land at heart. 

    Also, Hon. Olusegun Olaleye representing Ibadan North II State Constituency said the gestures of the donor was borne out of her “dynamic, articulate, eloquent, performing love for members of her constituency.”

    Olaleye described the donor as a woman of integrity and lover of women’s folks pointing out that she has sponsored bills on rights of women. 

    The donor, who is chairperson, House Committee on Women Affairs and Community Development thanked the constituents for giving her the opportunity to serve them. 

    She thanked the former governor for his amiable and accommodating leadership saying he has provided a clear- cut agenda that ensured their victory at different stages in the last general elections.

  • Ladoja returns to PDP

    Ladoja returns to PDP

    Former Oyo governor Rasheed Ladoja, who defected to the Accord Party to contest the state’s governorship seat in the 2015 general elections, has returned to the Peoples Democratic Party (PDP).

    Ladoja, along with Mr Seyi Makinde, a chieftain of the Social Democratic Party (SDP) in the state, moved to the PDP on Thursday in Ibadan, when Sen. Ahmed Makarfi, Chairman of the PDP National Caretaker Committee, visited the Oyo capital.

    The former governor, who won the seat on the ticket of the PDP in 2011, said that he was returning to his home, adding that it was not his wish to leave the PDP when he did.

    “When I left the PDP some years ago, it was because of the injustice done to me.

    “We left because the PDP leaders, at that time, were not ready to protect the interest of all members. We are back now because the new leadership has promised to right all wrongs and avoid mistakes of the past.

    “I have discussed with members of the Accord party and they have asked for amnesty; we need assurance from Makarfi that Accord Party members will be given equal treatment and a level playing ground,” Ladoja stated

    In his response, Makarfi said that he came to Ladoja “to take you back to where you belong”.

    “We want you to return to your great beginning; we want to start all over again as one family,” he said.

    Makarfi expressed optimism that Ladoja’s presence would add value to the PDP in Oyo State, adding that he (Ladoja) had committed no crime to warrant a plea for amnesty.

    He implored PDP members to forget the past and work toward party unity, and assured Ladoja and new PDP members of equal opportunity for all.

    Makinde, in his remark, assured Makarfi of his group’s total support to the ideals of the PDP, urging him to protect the interest of his members.

    Two PDP chieftains, Chief Richard Akinjide and Chief Yekini Adeojo, who spoke at the occasion, commended Makarfi over his efforts to reconcile warring factions and “especially for wooing new members into the fold”.

    Akinjide particularly promised to assist Makarfi toward rebuilding the PDP, and urged him to carry all members along, so as to create a sense of oneness.

    The News Agency of Nigeria(NAN) reports that hundreds of Accord party, SDP, and PDP supporters received Makarfi who also visited Chief Christopher Alao-Akala, another former Oyo governor being wooed by Makarfi.