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Ex-Oyo Governor Appears in Court Over N1.9bn Money Laundering

Ex-Oyo Governor Appears in Court Over N1.9bn Money Laundering

Ex- Governor of Oyo state, has today appeared before the Federal High Court, Lagos for an alleged involvement in laundering  N1.9 billion,

The allegation by the Economic and Financial Crimes Commission() also accused the former governor of transferring properties meant for the state to himself and his family.

Ladoja is facing trial alongside , who served under him  as the Oyo State Commissioner for Finance.

In the 8 count charge, Ladoja and Akanbi were accused of converting a sum of N1,932,940,032.48 belonging to Oyo State to their personal own, using a Guaranty Trust Bank account of a company, Heritage Apartments Limited.

In another instance, Ladoja was accused of removing a sum of £600,000 from the state coffers in 2007 and sent it to , who was at the time in London.

The former governor was also accused of converting a sum of N42m belonging to the state to his own and subsequently used it to purchase an armoured Land Cruiser jeep.

He was also accused of converting a sum of N728,600,000 and another N77,850,000 at separate times in 2007 to his own.

The EFCC claimed that Ladoja transferred the N77, 850,000 to one , which he nominated to help him purchase a property named Quarter 361, Ibadan, Oyo State.

The EFCC told the court that Ladoja and Akanbi acted contrary to sections 17(a) and18 (1) of the Money Laundering (Prohibition) Act, 2004 and were liable to be punished under sections 14(1), 16(a) (b) and 18(2) of the same Act, Channels TV reports.

 

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