Former Oyo State Governor Rasheed Ladoja Found Not Guilty Of Embezzling N4.7 Billion By Federal High Court In Lagos State

The Federal High Court in Lagos has publicly declared that the former Governor of Oyo State identified as Rasheed Ladoja and a former Commissioner for Finance identified as Waheed Akanbi, not guilty of the N4.7 billion fraud allegations levelled against them by the Economic and Financial Crimes Commission (EFCC).

The court had in November 2018 re-arraigned the former Oyo state Governor, Rasheed Ladoja and his former Commissioner for Finance Akanbi for allegedly converting N4.7billion from the Oyo state treasury to their personal uses.

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In the amended charge, the EFCC stressed that the former Oyo State Governor allegedly forced a broker to sell the state’s shares.

However, the EFCC alleged that the former Oyo State governor did not remit N1.9billion gotten from the sale of the shares.

EFCC further told the court that the money allegedly went to the former Oyo State Governor, Ladoja, his family and friends and the money was not refunded.

Meanwhile, at the hearing of the case which happened today February 8, Justice Mohammed Idris made it clear that the prosecution counsel was not consistent with the amount of money missing from the sale of the Oyo State Government’s shares.

The court, presided by Justice Mohammed Idris, thereafter, found both of them not guilty of all the 11 counts charge levelled against them by the EFCC.

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