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

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Court summons Oyo official in Ladoja’s 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)

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Oseni celebrates Oyo APC Publicist,  Sadare, extols loyalty, commitment to progressive cause

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The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has congratulated the Oyo State Publicity Secretary of the party, Alhaji Wasiu Olawale Sadare, on the occasion of his birthday, describing him as a loyal progressive, effective communicator and committed party stalwart whose contributions have continued to strengthen the party in the state.

Oseni, in a statement issued on Sunday by his Media Aide, Idowu Ayodele, said Sadare has remained a consistent and dependable voice of the party, discharging his responsibilities with professionalism, integrity and an unwavering commitment to the ideals of the All Progressives Congress.

He noted that the Oyo APC spokesman has distinguished himself through responsible public communication, constructive engagement and an enduring commitment to promoting the party’s vision, values and programmes.

According to the chairman, House Committee on Federal Roads Maintenance Agency (FERMA), Sadare’s humility, calm disposition and ability to articulate the party’s position with clarity have earned him the respect of party leaders, members and stakeholders, while also contributing to the unity and stability of the APC in Oyo State.

“Alhaji Wasiu Olawale Sadare is a committed progressive whose loyalty and dedication to our great party have remained steadfast over the years. He has served with uncommon diligence and has continued to project the ideals of the APC with dignity, courage and sincerity,” Oseni said.

The lawmaker added that the publicist’s birthday presents another opportunity to celebrate a man whose service has gone beyond official responsibility, noting that his contributions to strengthening internal cohesion and fostering constructive engagement within the party deserve commendation.

“As you mark another year today, I join your family, friends, political associates and the entire progressive family in celebrating God’s faithfulness in your life. Your commitment to duty, humility and sense of responsibility continue to inspire many within our party.”
Oseni prayed for greater accomplishments for the celebrant, asking Almighty Allah to bless him with good health, wisdom and renewed strength to continue serving the party and humanity.

“I pray that Almighty Allah grants you many more years in sound health, abundant grace and greater accomplishments. May He continue to guide your steps, enlarge your coast and reward your selfless service to our great party, Oyo State and our nation. Happy birthday, and many happy returns.”
The statement added that Oseni wished Sadare a memorable celebration and expressed confidence that his wealth of experience, dedication and leadership would continue to contribute meaningfully to the growth of the APC and the advancement of progressive politics in Oyo State.

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Oyo lawmaker, Oseni empowers Agbeni traders with ₦50m grant, rallies support for Tinubu

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The All Progressives Congress (APC) senatorial candidate for Oyo South, Hon. Aderemi Oseni, on Friday strengthened his grassroots engagement with traders by presenting a ₦50 million business grant to members of the Agbeni Amunigun Traders Association in Ibadan.

The empowerment package is expected to benefit traders across the market, which cuts across Ibadan North-West and Ibadan South-West Local Government Areas of Oyo State.

Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives, also donated ₦5 million towards the completion of the association’s secretariat. He further pledged to install solar-powered streetlights within the market to improve security and make the business environment more conducive.

Speaking during an interactive meeting with the association’s leaders, executives and representatives of its 15 zones, the lawmaker described traders as key drivers of the local economy, saying they deserved continuous support to grow their businesses and improve their standard of living.

He also appealed to the traders to sustain their support for President Bola Ahmed Tinubu, expressing confidence that the economic reforms introduced by the administration would deliver lasting benefits for the country.

“The decisions taken by President Tinubu were difficult, but they were necessary. Today, fuel queues are gone, states and local governments receive higher allocations, and more resources are available for infrastructure, education, healthcare and other development projects, including the regular payment of salaries,” he said.

Oseni highlighted ongoing road rehabilitation projects, interventions in the health sector, agricultural support initiatives and the Nigerian Education Loan Fund (NELFUND) as some of the programmes making a difference under the current administration.

He noted that the student loan scheme had opened up access to higher education for many young Nigerians, while other economic reforms were laying a solid foundation for sustainable growth.

Looking ahead, Oseni promised that if elected to represent Oyo South in the Senate in 2027, he would facilitate an interest-free revolving loan scheme for traders. He said the programme would be jointly managed by the market leadership and a reputable microfinance bank to ensure genuine traders had access to affordable credit.

“I will continue to support policies and programmes that help small and medium-scale businesses thrive because traders remain the engine of our economy. My goal is to create opportunities that will help your businesses expand and improve the welfare of your families,” he said, assuring the association that the requests presented to him would receive prompt attention.

Earlier, the Babaloja of the market, Alhaji Abdul-Latifu Abdulganiyu; the Baale, Alhaji Muniru Oladayo; the General Chairman of the market, Alhaji Nureni Lawal; the Iyaloja’s representative, Alhaja Basirat Owolanwa; and the youth representative, Alhaji Adeyinka Basiru, praised Oseni for his consistent support for traders and other community-based empowerment programmes.

The market leaders unanimously endorsed his senatorial ambition and pledged to mobilise support for his 2027 bid, saying his record of empowerment, constituency projects and community development had earned him the confidence of the people.

 

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‎Oseni mourns C&S Movement Church Spiritual Head Alogbo, hails legacy of faith, service

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The lawmaker representing Ibarapa East/Ido Federal Constituency in the national Assembly and All Progressives Congress (APC) senatorial candidate for Oyo South, Hon. Aderemi Abass Oseni, has mourned the death of the Spiritual Father and Spiritual Head of the Cherubim and Seraphim Movement Church Worldwide (Ayo Ni O), His Most Eminence, Prophet Emmanuel Alogbo, describing his passing as a great loss to Christendom and Nigeria.

‎Prophet Alogbo died at the age of 93 after decades of devoted service to God, the church and humanity, leaving behind a legacy of faith, humility and exemplary spiritual leadership.

‎Contained in  a condolence message issued on Thursday by his media aide, Idowu Ayodele, the Chairman, House Committee on Federal Roads Maintenance Agency (FERMA) sympathised with the leadership and members of the Cherubim and Seraphim Movement Church Worldwide, Ayo Ni O, as well as the family of the late cleric, praying that God would comfort them in this difficult period.

The federal lawmaker described the late prophet as a revered servant of God whose ministry was marked by integrity, compassion and an unwavering commitment to the advancement of the Christian faith.

‎He noted that Prophet Alogbo dedicated his life to preaching the Gospel, promoting peace and mentoring generations of believers, saying his impact would continue to resonate far beyond the walls of the church.

‎Oseni said, “The passing of His Most Eminence, Prophet Emmanuel Alogbo, is a profound loss to the Cherubim and Seraphim Movement Church Worldwide, the Christian community and our nation. He lived an exemplary life of faith, humility, sacrifice and selfless service to God and humanity.

‎”Although we mourn his departure, we also celebrate a life that was wholly dedicated to God’s service. His teachings, exemplary character and unwavering devotion to humanity will continue to inspire generations to come,” Oseni said.

‎He urged members of the church and Christians across the country to honour the late spiritual leader by upholding the virtues of love, peace, righteousness and selfless service, which he consistently preached throughout his lifetime.

Oseni prayed that God would grant the Cherubim and Seraphim Movement Church Worldwide, Ayo Ni O, the Alogbo family and the entire Christian community the fortitude to bear the irreparable loss, while asking God to fill the vacuum his demise has left behind within the church.

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