A Federal High Court Sitting In Lagos South west Nigeria today discharged and acquitted Senator Rashidi Ladoja in the alleged N4.7 billion fraud charge brought against him by the Economic and Financial Crimes Commission (EFCC).

Rasheed Ladoja

Justice Mohammed Idris, in his judgement said the evidence brought to court by the EFCC was “too low on credible evidence.” He therefore discharged and acquitted the former governor of Oyo state and Waheed Akanbi, who was Oyo State’s Commissioner for Finance during his administration.

Recall that the Federal High Court in Lagos on Monday, January 21, reserved judgment in the criminal case against Ladoja and one of his aides, Waheed Akanbi charged with N4.7 billion fraud.

Justice Idris reserved his judgment after the counsel representing the parties had adopted their final addresses before the court.

Ladoja was charged by the Economic and Financial Crimes Commission (EFCC) for converting N4.7 billion from the state’s 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.