A former governor of Oyo State, Chief Rashidi Ladoja, who was accused of N4.7billion fraud, was on Friday, acquitted by a Federal High Court sitting in Lagos of the 11-count charge levelled against him by the Economic and Financial Crimes Commission (EFCC). Ladoja’s travails began 11 years ago when he was charged before the court
The presiding Judge, Justice Mohammed Idris held that the commission did not prove the case beyond reasonable doubt.
He said the prosecution, led by Festus Keyamo (SAN), who handed over to his junior Olabisi Olufemi, failed to prove a single ingredient of the 11-count charge.
Justice Idris, who was elevated to the Court of Appeal last June but concluded the trial through a fiat, found Ladoja and his co-accused not guilty in all the counts.
He faulted the prosecution’s handling of the case, saying that EFCC shielded the main culprits from prosecution while meting “absolute injustice†to the defendants.
Justice Idris is the third judge to adjudicate on the case after Justices I. M Sanni and A. R. Mohammed.
Nigerian Tribune recalls that EFCC had last year November 5 re-arraigned Ladoja following an amendment of the charge.
He was charged alongside his former Commissioner for Finance Waheed Akanbi on 11 counts of money laundering and unlawful conversion of N4.7 billion state funds.
In the amended charge, EFCC said Ladoja “compelled†a broker to sell the state’s shares and converted it to personal use instead of remitting N1.9 billion realised from the sale to the state.
Justice Idris held that the prosecution’s evidence was full of inconsistencies.
“The prosecution was not consistent in the amount of money allegedly missing in the sale of Oyo State’s shares. These contradictions were not explained during the trial,†the judge noted.
According to him, EFCC’s witnesses failed to provide credible evidence in the course of trial.
“The highest burden of proof before getting to ‘beyond reasonable doubt’ is of course clear and convincing evidence. The case of the prosecution is too low on credible evidence.
“The failure on the part of the prosecution to prove even one count of several ingredients of an offence means it has failed to prove the guilt of the offence beyond all reasonable doubt,†Justice Idris held.
He said EFCC called witnesses who he said ought to have been charged with the alleged offence.
“I must state that this country cannot sustain the fight against corruption in the manner in which this case has been prosecuted, where those that should be proper defendants to the case are shielded away from prosecution and kept away from facing the law. This is unacceptable. This is injustice. And this court will not partake in injustice.
“There is no doubt that corruption affects us all. It threatens sustainable economic development, ethical values and justice. Corruption distabilises society and endangers the rule of law. Therefore, there is a need for a fair and just prosecution of criminal cases in the fight against corruption,†the judge said.
“Prosecutors in this fight must be committed to promoting a justice system founded in fairness, equity, compassion and responsibility.
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“In the light of all I have said, I find that the prosecution has not established counts 1 to 11 against the defendants herein beyond reasonable doubts.
“I am unable, in the circumstances, to find any of the defendants guilty on any or all of the counts as charged. The first and second defendants are, therefore, hereby discharged and acquitted on all counts,†the Judge held.
EFCC had accused the defendants 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 sent £600,000 state fund to his daughter Bimpe in London in 2007 and 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.
Ladoja and Akanbi had pleaded not guilty to the offence, which EFCC said contravened sections 17(a) and18 (1) of the Money Laundering (Prohibition) Act, 2004, punishable under sections 14(1), 16(a) (b) and 18(2).
