Rasheed Ladoja: Accord Party candidate

Akin Kuponiyi

The first EFCC Prosecution witness Abdulahi Lawal,yesterday, told a Federal high court sitting in Lagos south west Nigeria that the total shares belonging to Oyo state Government sold by Rashidi Ladoja’s administration was N6 .6 billion but N4.3 billion, was declared and diverted the sum of N1.9 billion.

Under cross examination, the witness told the court that the summary of his evidence is based on the level of his investigation of the matter. Other members of the investigation team which concluded the investigation are still coming to give evidence.

Another witness of the Economic and Financial Crimes Commission (EFCC), Mr. Adewale Atanda, while being led in evidence by EFCC prosecutor O.O.N.Olabisi told the court how Ladoja, bought 22 vehicles for the state lawmakers to gain their loyalty in 2005.

Atanda, a lawyer, also told the court that out of the 22 vehicles bought by the former governor, only 14 was given to Ladoja’s loyalists in the State House of Assembly, while the remaining eight were shared among the former governor’s families.

Atanda, a political associate of Senator Ladoja, is a second witness to give evidence in the on going trial of Senator Ladoja, and a former Commissioner of Finance, Mr. Waheed Akanbi, who was arraigned before the court on charges bordering on laundering of N4.7 billion.

In the charge, the EFCC alleged that both Senator Ladoja and the former Commissioner of Finance conspired to convert properties and resources derived from an illegal act, with the intention of concealing their illicit origin.

The two accused were re-arraigned on an 8-count charge of money laundering contrary to Section 17(a) and punishable under Section 14(1) of the Money Laundering (Prohibition) Act, 2004.

At the resumed trial of the two accused persons, Atanda, started his evidence by saying that the most memorable about the Impeachment of Ladoja was a rift between the members of the Oyo State House of Assembly, in one hand and political actors in Oyo State, like Late Lamidi Adedibu, and some external forces from Abuja on other hand

The witness stated that when he noticed that there was attempt to impeach Senator Ladoja, and to secure two thirds members of the Assembly members which is 22, that will support Ladoja, he suggested that 22 vehicles be bought and given to the loyal members of the Assembly.

Atanda said to get vehicles bought, he secured a loan of N80 million from Wema Bank, which he used his personal assets and personal guarantee to secure as the Commissioner of Finance was unable to raise the money from the State purse.

He stated that despite buying and sharing of the vehicles, Ladoja was Impeached in December 2005. But stated that immediately after the Impeachment, an High Court in the State declared the Impeachment as Illegal.

He also stated that after the Impeachment, Senator Ladoja and his 14 loyalists at the State House of Assembly, and other political associates regrouped in Lagos, in which he made available his hotel at Victoria Island available as a place of abode for the former Governor.

He also stated that while in Lagos, each of the lawmakers asked Senator Ladoja to be paying them N1million each, and the lawyers who handled the matter at the State High Court, also increased their fees from N50 million to N350 million, on the condition that if they are to prosecute the matter up till Supreme Court.

He also stated that upon the enormous financial pressure on the former governor, he approached his bank, Lagoon Saving and Loan for another N50 million loan, which he used his landed property on VIctoria Island as guarantee.

He further stated that after he secured the loan, he issued a cheque of N35 million to the lead firm of lawyers that handled the matter in December 2006.

He stated that when Ladoja was returned to office after the Supreme Court favourable judgement, in 2006, the Commissioner of Commerce briefed and the Exco, how Alao Akala, who was interim Governor transacted and entered into agreement with Churchgate Group, for supply of 10,000 bags of rice for the purpose of selling it to the public, but stated that the price at which the rice was to be sold was higher than the market price. Consequently, the rice was rejected.

He also stated that it was discovered that Charter Bank provided guarantee and collateral, and that the Akala government had put up the State’s Shares quoted at the Nigeria Stock Exchange (NSE) security.

He stated that upon this discovery, Ladoja’s administration consulted a team of lawyers, who advised him that the guarantee used by Akala’s regime was illegal, following the Supreme Court judgement that had declared his impeachment Illegal. Consequently, he stated that his lawyer filed a suit at Federal High Court, Lagos, which also described the guarantee entered by Akala’s administration as unlawful, Illegal and called for evacuation of the rice.

However, at this junction, due to the constrain of time , the presiding judge, Justice Mohammed Idris, adjourned the matter till March 27 and 31, for continuation of trial.