A Federal High Court in Lagos has discharged and acquitted former governor of Oyo State, Senator Rashidi Ladoja in the alleged N4.7 billion fraud charged brought against him by the Economic and Financial Crimes Commission (EFCC).
Ladoja was freed by the court on Friday, February 8.
In his judgement, Justice Mohammed Idris said the evidence brought to the court by the EFCC was “too low on credible evidence.” He therefor discharged and acquitted the former governor of Oyo state and Waheed Akanbi, who was Oyo State Commissioner for Finance during his administration.
The court had on Monday, January 21, reserved judgment in the criminal case against Ladoja and Akanbi, after counsel representing parties had adopted their final addresses before the court.
The EFCC charged Ladoja with converting N4.7 billion from the state’s treasury to his personal use.
He was re-arraigned along with Akanbi, on 11 counts charge of mone y laundering and unlawful conversion of public funds.