Connect with us

Top Stories

Alleged N4.7bn fraud: Oyo Director testifies against Ladoja

Published

on

Court summons Oyo official in Ladojas trial

A Director in the Oyo State Civil Service, Mr. Yinka Fatoki, on Tuesday testified for the prosecution in the ongoing trial of N4.7bn money laundering charge against a former governor of Oyo State, Rasheed Ladoja.

The Economic and Financial Crimes Commission is prosecuting Ladoja and a former Commissioner for Finance, Waheed Akanbi.

Ladoja and Akanbi had, on December 14, 2016, pleaded not guilty to an eight-count charge bordering on money laundering before Justice Mohammed Idris of a Federal High Court, Lagos, and were granted bails.

The EFCC prosecutor, Mr. Oluwafemi Olabisi, was present in court; while Mr. Bolaji Onilenla and Mr. Adeyinka Olumide-Fusika represented Ladoja and Akanbi respectively.

At the resumed trial on Tuesday, the prosecution witness, Fatoki, told the court he was the Executive Secretary of the Bureau of Investment and Public Private Partnership in Oyo State.

Olabisi: Where were you in 2007?

Witness: As at 2007, I was an acting Director of Investment Promotion in the Ministry of Commerce, Oyo State; and as at that time, the desk officer in charge of state government investment holdings of public quoted securities.

Olabisi: Do you know Fountain Securities Ltd ?

Witness: Fountain Securities Ltd was the appointed portfolio manager for the sale of the Oyo State Government shares in 2007.

We gave a mandate for them to sell the shares, there was no pricing on the mandate, but that they should sell in line with best practices and within a time frame.

When Fountain Securities reported that the shares were sold at a discounted rate, Oyo State Government enlisted GTI Capital Ltd to investigate.

A petition was written by the state executive council to EFCC upon receipt of the investigation report, I was also named in the petition.

During cross-examination, counsel to the first defendant, Mr. Bolaji Onilenla, asked the witness if he was aware of any meeting with the stock brokers to finalise the sale of the shares.

The witness told the court that he had no such knowledge of any meeting.

Onilenla: Are you aware that the state government had an investigation into the sale of the shares?

Witness: The report GTI Capital Ltd sent to the state government after their investigation confirmed that the sales of the shares were done in line with market rules and practices.

In his cross-examination, Olumide-Fusika asked: Did you receive any payment from Fountain Securities?

Witness: I received payment from Fountain Securities Ltd, but it was not payment for the sale of the shares but for the dividends collected on them.

Fatoki further told the court that he gave the money to the commissioner who further disbursed it.

Olumide-Fusika: How was the payment made?

Witness: Payment was made in tranches and not in lump sum.

At the close of cross-examination, Olabisi told the court that the prosecutions’ next witness resides in Ibadan, and that he would need a few days to produce him.

He urged the court to vacate Wednesday’s earlier set-down date and grant the prosecution a further date to produce other witnesses.

Justice Mohammed Idris adjourned the case until April 12 and 13 for continuation of trial.

The defendants are alleged to have conspired, siphoned and laundered N4.7bn from the coffers of Oyo State.

EFCC is also accusing the defendants of converting N1.9bn belonging to the state to personal use, using the account of a company — Heritage Apartments Ltd — to commit the crime.

It claimed that they retained the money sometime in 2007 in spite of their knowledge that it was proceeds from a criminal activity.

Ladoja was accused of removing 600,000 pounds sterling from the state coffers in 2007, which he allegedly sent to Bimpe Ladoja, his daughter, who was in London at the time.

In addition, the ex-governor was also accused of converting N42m belonging to the state to his personal use and subsequently used same to purchase an armoured Land Cruiser jeep.

Ladoja also allegedly converted N728m and another N77m at different times in 2007 to his personal use and transferred the money to Bistrum Investments to purchase a property in Ibadan on his behalf.

The offences contravened sections 14, 16, 17 (a) and 18 (1) of the Money Laundering (Prohibition) Act, 2004. (NAN)

https://iso.keq.mybluehost.me/i-must-sign-neighbourhood-watch-bill-those-who-want-to-die-should-die-wike/

Comments

Politics

APC Secretariat Violence: Oyo Lawmaker Denies Assault, Alleges Smear Campaign

Published

on

The lawmaker representing Akinyele/Lagelu Federal Constituency of Oyo State, Olafisoye Akinmoyede, has denied allegations of violence at the All Progressives Congress (APC) state secretariat, describing claims that he assaulted a party member as false and politically motivated.

An online platform, IMPARTNEWSNETWORK, had alleged that Akinmoyede assaulted one Gafar Oyebade during a meeting convened by the state chairman of the party, Alake Adeyemo, to resolve issues surrounding the executive list of the APC in Lagelu Local Government Area.

However, Akinmoyede, in a statement on Tuesday, said the meeting was peaceful and attended by key members of the state executive, including the chairman, deputy chairman, and secretary, who witnessed the proceedings.

He clarified that contrary to Oyebade’s claim of being the party secretary, the official list presented by the state leadership recognised him as the Public Relations Officer.

According to the lawmaker, following the clarification, the state executive directed the Lagelu Local Government chairman, Fatai Awoyoola, to proceed with the swearing-in of other party officials.

Akinmoyede also faulted attempts to link the incident with the 2019 killing of a former federal lawmaker, noting that a court of competent jurisdiction had already ruled on the matter.

He said, “In Suit No. I/70c/2019, delivered by Justice Mufutau Adegbola on January 23, 2020, all those accused were discharged and acquitted.”

The lawmaker expressed concern over what he described as a deliberate attempt to mislead the public, alleging that Oyebade, a public school teacher under the Oyo State Government, should not be involved in partisan politics.

He described the allegation as a “recycled script” aimed at tarnishing his image ahead of political activities, urging constituents to remain calm.

Akinmoyede also called on journalists to verify information before publication and urged security agencies to take action against individuals who file false reports.

“These tactics surface every election cycle. Those behind them should learn to accept the outcomes of political processes. They failed before and will fail again. Power comes from God,” he added.

Continue Reading

Politics

Oyo Reps Member Denies Assault, Dares APC Chieftain to Prove ‘Hospitalisation’ Claim

Published

on

‎The lawmaker representing Akinyele/Lagelu Federal Constituency in the House of Representatives, Hon. Olafisoye Akinmoyede, has denied allegations of assault levelled against him by a member of the All Progressives Congress (APC) in Lagelu Local Government Area, Mr. Gafar Oyebade.

Akinmoyede described the allegation as “false” and “a lie taken too far,” insisting that no physical altercation occurred.

The denial was contained in a statement issued on Monday by his Legislative Aide, Dr. Isiaq Akintunde.

Oyebade had alleged that he was hospitalised following a confrontation during a meeting held at the office of the state party chairman in Oke-Ado, Ibadan, convened to resolve a leadership dispute in the local government.

‎But the federal lawmaker maintained that the meeting was peaceful and attended by top party officials.

‎“The meeting was convened to clarify Mr. Oyebade’s position within the local executive, and it was attended by the State Party Chairman, his deputy, the secretary, the publicity secretary, and other key state executives, all of whom witnessed the peaceful proceedings,” the statement read.

‎He added that contrary to Oyebade’s claim of being the party secretary, the official list presented by the Lagelu Local Government Party Chairman, Hon. Fatai Awoyoola, identified him as the Public Relations Officer.

‎According to Akinmoyede, the state executive thereafter directed Awoyoola to proceed with the swearing-in of the remaining members of the local government executive.

‎The lawmaker accused Oyebade of fabricating the allegation to advance political interests.

‎“I wonder why Mr. Gafar Oyebade, a secondary school teacher, would claim he was assaulted in the presence of the State Executive. This is an attempt to justify money allegedly collected from an aspirant to tarnish my image,” he said.

‎Akinmoyede further claimed that Oyebade was seen walking freely after the meeting and was not hospitalised as alleged.

‎He also raised concerns over Oyebade’s involvement in partisan politics, noting that civil servants are restricted from active participation in political activities.

The lawmaker called on security agencies and the media to investigate the incident at the party’s Oke-Ado office to ascertain the veracity of the claims.

‎Efforts to reach Oyebade for comments were unsuccessful as of the time of filing this report.

Continue Reading

Politics

2027: Oseni kicks off Oyo South Senate bid, rallies support for one million Tinubu votes

Published

on

The lawmaker representing Ibarapa East/Ido Federal Constituency and Chairman, House Committee on Federal Roads Maintenance Agency, Aderemi Oseni, has declared his intention to contest the Oyo South Senatorial seat in the 2027 general elections.

Oseni made his aspiration known during a high-level meeting with the Ibarapa APC Elders’ and Leaders’ Forum, comprising the G9 and the expanded G64 caucus, held at the party secretariat in Eruwa, Ibarapa East Local Government Area, over the weekend.

The G9 and G64 groups consist of influential stakeholders drawn from Ibarapa East, Ibarapa Central, and Ibarapa North local government areas.

In a statement issued on Monday by his media aide, Idowu Ayodele, and made available to journalists in Ibadan, the lawmaker expressed appreciation to the forum for their support and confidence in his leadership and vision.

He said his ambition to represent Oyo South Senatorial District was anchored on a determination to consolidate and expand his record of performance.

Oseni said, “This aspiration is not built on mere rhetoric, but on the continuity and expansion of a proven track record of quality representation and grassroots-oriented governance.”

While soliciting the support of party leaders, he described his ambition as a divine call to serve the people with renewed dedication.

According to him, “This is not a time for self-glory but a sacred responsibility to intensify efforts towards real development, bring more relief to our people and ensure inclusive governance.”

He pledged not to betray the trust reposed in him by party elders and faithful, stressing that his aspiration is rooted in progressive ideals and a genuine commitment to the development of the district.

Oseni also urged leaders in the zone to mobilise support towards delivering one million votes for President Bola Tinubu in the forthcoming election.

Speaking at the meeting, a leader from Ibarapa East, Chief Michael Morawo, lauded the lawmaker for delivering democratic dividends and strengthening the party structure. He added that Oseni has demonstrated commendable leadership through his performance, noting that his impact in stabilising the party within the constituency is evident.

Similarly, a former council chairman in Ibarapa Central, Chief Theophilus Adenrele, commended the lawmaker for not betraying the trust reposed in him. Also, a chieftain from Ibarapa North, Chief Francis Babalola, described Oseni as a humble leader committed to progressive ideals, dismissing speculations about his possible defection if he does not secure the governorship ticket.

In his remarks, the Chairman of the forum, Chief Timothy Jolaoso, said the lawmaker enjoys widespread grassroots acceptance that cuts across political divides.

Jolaoso said, “All indicators consistently point to Oseni as a candidate with acceptance that transcends party lines. He is not only capable but a man of deep faith with proven empathy for the downtrodden.”

He added, “He possesses the goodwill, financial strength, and public trust required for leadership.”

The elder statesman further noted that Oseni’s performance in the House of Representatives, alongside his role as Chairman of the FERMA Committee, underscores his competence and commitment to development.

 

 

Continue Reading

Advertisement

Entertainment

Advertisement

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Advertisement

Trending