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N4.7bn Alleged Fraud: EFCC Re-arraigns Ladoja Eight Years After

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  • EFCC Re-arraigns Ladoja Eight Years After

The Economic and Financial Crimes Commission on Wednesday re-arraigned a former Governor of Oyo State, Chief Rashidi Ladoja, alongside one Waheed Akanbi for an alleged fraud of N4.7bn.

The EFCC claimed that Ladoja and Akanbi committed the offence in 2007.

The charge, marked FHC/L/336c/08, was filed against them in 2008 and they were first arraigned before Justice A. R. Mohammed eight years ago.

Their re-arraignment before Justice Mohammed Idris of a Federal High Court in Lagos on Wednesday followed the dismissal of their appeal against the charges which went all the way to the Supreme Court over a period of seven years.

Seventy-two-year-old Ladoja appeared in court in a green agbada made of ankara fabric, a brown cap and black shoes while Akanbi was dressed in a black suit.

The eight counts pressed against them by the EFCC border on money laundering and unlawful conversion of funds belonging to the Oyo State Government to their own.

In one of the counts, Ladoja and Akanbi were accused of converting a sum of N1,932,940,032.48, belonging to Oyo State Government to their personal own, using a Guaranty Trust Bank account of a company, Heritage Apartments Limited.

The EFCC claimed that they retained the money sometime in 2007, despite their knowledge that it was a proceed of a criminal conduct.

In another instance, Ladoja was accused of removing the sum of £600,000 from the state coffers in 2007 and sent it to Bimpe Ladoja, who was at the time in London.

The ex-governor was also accused of converting the sum of N42m, belonging to the state, to his own and subsequently used it to purchase an armoured Land Cruiser jeep.

He was also accused of converting a sum of N728,600,000 and another N77,850,000 at separate times in 2007 to his own.

The EFCC claimed that Ladoja transferred the N77, 850,000 to one Bistrum Investments, which he nominated to help him purchase a property named Quarter 361, Ibadan, Oyo State.

The EFCC told the court that Ladoja and Akanbi acted contrary to sections 17(a) and18 (1) of the Money Laundering (Prohibition) Act, 2004 and were liable to be punished under sections 14(1), 16(a) (b) and 18(2) of the same Act.

The defendants, however, pleaded not guilty upon the charges being read to them.

The EFCC, lawyer, Mr. Oluwafemi Olabisi, consequently asked the court to fix a date for the commencement of trial.

But the defence counsel, Mr. Bolaji Onilenla and Mr. Adeyinka Olumide-Fusika, informed the court of their clients’ bail applications.

Onilenla, representing Ladoja, urged the court to allow his client to continue on the bail conditions granted him in 2008 by Justice Mohammed.

“The first defendant has kept full faith with the terms and conditions of the bail and there was no single incident of default,” Onilenla said, while assuring Justice Idris that his client would “behave himself” and make himself available for his trial.

In his bench ruling, Justice Idris held that the court could not deny the defendants bail on account of their exercising their constitutional right of appeal, which resulted in the delay of the case.

He adjourned till February 14, 15 and 16, 2017, for commencement and continuation of trial.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Government

45th President of the United States, Donald Trump, Launches ‘office Of The Former President’ In Florida

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45th President of the United States, Donald Trump, Launches ‘office Of The Former President’ In Florida

The former President of the United States, Donald Trump, has launched the “Office of the Former President” in Florida in a move that suggests the 45th President of the world’s most powerful country remained resolute in his fight to return to office in the year 2024.

According to a statement released, the purpose of the office will be to oversee Trump’s post-presidential advocacy, ‘Make America Great Again’.

The Office will be responsible for managing President Trump’s correspondence, public statements, appearances, and official activities to advance the interests of the United States and to carry on the agenda of the Trump Administration through advocacy, organising, and public activism,” an official statement said.

President Trump will always and forever be a champion for the American People,” the statement added.

The former president has not made any public appearances since he left office on January 20, 2021, instead remained inside his luxury Mar-a-Lago resort.

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President Muhammadu Buhari Appoints New Service Chiefs as Buratai, Others Resign

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President Muhammadu Buhari Appoints New Service Chiefs as Buratai, Others Resign

President Muhammadu Buhari has appointed new service chiefs in an effort to bring the growing insecurities in Nigeria to an end.

The appointed service chiefs are Major-General Leo Irabor, Chief of Defence Staff; Major-General I. Attahiru, Chief of Army Staff; Rear Admiral A.Z Gambo, Chief of Naval Staff; and Air-Vice Marshal I.O Amao, Chief of Air Staff.

Femi Adesina, a presidential spokesman, stated in a statement issued on Tuesday.

According to him, the appointment was after Buratai and other service chiefs resigned and immediately retired from service.

The resigned and retired service chief were the Chief of Defence Staff, General Abayomi Olonisakin; Chief of Army Staff, Lt-Gen. Tukur Buratai; Chief of Naval Staff, Vice Admiral Ibok Ekwe Ibas; and Chief of Air Staff, Air Marshal Sadique Abubakar.

President Buhari thanked the outgone service chiefs for their dedication and commitment towards securing and protecting the lives of Nigerians.

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University Of Ibadan (UI) Goes Digital, Releases Timetable for Virtual Academic Session

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University Of Ibadan (UI) Goes Digital, Releases Timetable for Virtual Academic Session

University of Ibadan (UI) on Friday announced it is going ahead with resumption on February 20 despite the second wave of COVID-19.

In a statement released by the school, the First Semester of the 2020/2021 academic session will commence virtually on February 20, 2021.

The virtual academic session will last for 13 straight weeks and end on Friday May 12, 2021, while the matriculation ceremony will hold on Tuesday March 16, 2021.

The University of Ibadan also scheduled one week for the Finalization of Continuous Assessment, to begin from Mon. 17 May and ends Friday 21 May.

The rising number of COVID-19 cases has compelled the Senate to approve the virtual academic session in an effort to ensure the tertiary institution abides by the protocols established by the Federal Government to curb the spread of the pandemic.

“It, therefore, agreed that the 2020/2021 First Semester lectures will be delivered online. In this regard, students will not be accommodated on campus,” a statement from the school said.

“Senate also approved the cancellation of the 2019/2020 session. The next session is, therefore, renamed 2020/2021 Academic Session. Consequently, students who have been admitted for the 2019/2020 session will now be regarded as the 2020/2021 intakes.

“Kindly note that online opening of Registration Portal and Orientation Programme for the 2020/2021 intakes may commence ahead of the Sat 20/02/21 date indicated above,” the statement said.

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