Jun.21, 2010

The Federal High Court, Lagos has adjourned indefinitely further hearing in the money laundering case against former Oyo State Governor, Rasheed Ladoja, pending the determination of his appeal.

In his ruling on an application by Ladoja to stay further proceedings, Justice Mohammed Idris said that it was necessary to adjourn the case indefinitely.

“I have seen the certified true copy of the appeal documents as filed by counsel to the accused. An appeal was indeed transmitted to the Court of Appeal and the matter has been listed for hearing,’’ he added.

Idris said that as a sign of respect for the Justices of the Court of Appeal and as a matter of law, he would adjourn the case pending the decision of the appellate court. “Further hearing in the case is hereby adjourned indefinitely, so that my proceedings would not be an effort in futility,’’ he said.

The Economic and Financial Crimes Commission (EFCC) had on March 25, 2009 re-arraigned Ladoja and Waheed Akanbi, a former Oyo State Commissioner for Finance and Budget, on an eight-count charge. They were accused of laundering about N6.5 billion of the state’s funds while in office. The commission alleged that the accused laundered the funds sometime in 2007 through the account of a firm, Heritage Apartments Ltd, in Guaranty Trust Bank.

The EFCC also alleged that Ladoja used about N42 million to purchase an armoured Land Cruiser Jeep and sent about 600,000 pounds (N70.8 million) to one Bimpe Ladoja in London. The accused persons had pleaded not guilty to the charge. Ladoja had, through his counsel, Mr Bolaji Onilenla, urged the court to stay further proceedings in the matter pending the determination of his appeal challenging its ruling that refused to quash the charge against him.

Counsel to the EFCC, Mr Festus Afeiyodion, however, urged the court not to stay further proceedings on the grounds that mere filing of an appeal did not amount to a stay of further proceedings.