N4.7bn ‘fraud’: Court dismisses Ladoja’s no case submission

A Federal High Court in Lagos Monday dismissed a ‘no case’ submission filed by former Governor of Oyo State, Senator Rashidi Ladoja and his aide, Waheed Akanbi, in response to a N4.7 billion fraud charge.
Justice Mohammed Idris ordered the defendants to open their case on November 20, the next adjourned date.

The duo had in their no case submissions argued that the Economic and Financial Crimes Commission (EFCC) did not establish any prima facie case against them to warrant them being called on to open their defence.

But Justice Idris noted that the preponderance of evidence put forward by the anti-graft agency, required some explanations from the defendants.
The judge held: “I have refused to consider the issue of whether or not I will believe the evidence. I have also refused to consider the question of credibility of witnesses at this stage.

“In the light of all the evidences that has been tendered by the prosecution and in my opinion, the defendants might have to explain the contents of some of those exhibits.”
Afterwards, Ladoja’s counsel, Bolaji Onilenla, sought an adjournment till next Tuesday for his client to open his defence.
The other defence counsel, A. Olumide-Fusika (SAN) and the EFCC’s counsel, Olabisi Oluwafemi, were in agreement with Onilenla’s request.
The case was subsequently adjourned till November 20 at 1pm for the defendants to open their case.
The defendants were first arraigned in November 2008 on a 10-count charge before Justice Ramat Mohammed, formerly of the Lagos Division of the Federal High Court.
The case suffered several adjournments until December 14, 2016, when the duo were re-arraigned before Justice Mohammed Idris on an eight-count amended charge of money laundering contrary to Section 17(a) and punishable under Section 14(1) of the Money Laundering (Prohibition) Act, 2004.
The former governor and his aide were on November 5, 2018, for the second time in two years, arraigned by the EFCC for an alleged N4.7 billion fraud.
The commission preferred an 11-count charge of money laundering and unlawful conversion of public funds against them.
In the latest charge, EFCC accused Ladoja of “compelling” a broker to sell the state’s shares while he also failed to remit N1.9 billion realised from the sale of the shares. The anti-graft agency alleged that the money went to Ladoja, his family and friends.
The defendants pleaded not guilty.