A Federal High Court Lagos sitting in Lagos South West Nigeria today reserved judgment in the criminal case preferred against former Governor of Oyo State, Rashidi Ladoja, and one of his aides, Waheed Akanbi, alleged to have laundered N4.7 billion.

The presiding Judge Justice Mohammed Idris reserved judgment after counsels representing the two parties had adopted their final written addresses before the court.

Ladoja was alleged by the Economic and Financial Crimes Commission (EFCC) to have converted N4.7billion from the Oyo State treasury to his personal use.

He was re-arraigned along with Akanbi, his former Commissioner for Finance on 11 counts charge of money laundering and unlawful conversion of public funds.

They pleaded not guilty to the charges, and were granted bails.
The trial closed on November 17, 2018 after Ladoja had given his evidence before the court. The court then adjourned for adoption of final written addresses.

Adopting his address today , the prosecutor, Mr Oluwafemi Olabisi urged the court to hold that the prosecution had been able to prove his case against the accused based on evidences adduced. Consequently, he argued that the crux of the prosecution’s case centred on money received as proceeds of crime.

According to him, offences of this nature do not give room for acknowledgment of monies taken from government coffers. He added that the court was enjoined to look at circumstantial evidences in arriving at its decision.

Olabisi urged the court to discountenance evidences adduced by defence witnesses and hold that the prosecution had been able to prove its case against the accused.

However, defense counsel, Mr Adeyinka Olumide-Fusika SAN urged the court to discharge and acquit the accused on the grounds that the prosecution had a weak case incapable of securing any conviction. “If there is no foundation, the super structure cannot stand,” he said.

Olumide-Fusika argued that no prosecution witness was able to link the accused with the alleged offences, adding that the prosecution was only concerned with securing conviction at all cost.

Besides, he argued that the statement used by the prosecutor in his written address that “the second defendant in the very least, did conspire to commit the offence” was incapable of establishing his guilt.

He urged the court to be sensitive to evidences adduced as PW2 who testified as having engaged in the sale of the Oyo State shares was never charged.

After listening to the submissions of the counsels, Justice Idris commended them for seeing the trial to conclusion.

He then informed the two parties that his judgment would be reserved, and that hearing notices would be sent to their counsels in a short while.