Justice Mohammed Idris of a Federal High Court in Lagos on Friday acquitted former Gov. Rasheed Ladoja of Oyo State charged with N4.7 billion fraud.
The Court also discharged and acquitted a former Commissioner for Finance during Ladoja’s tenure, Waheed Akanbi.
The Court held that the prosecution failed to establish charges against Ladoja and Akanbi.
Ladoja was re-arraigned by the Economic and Financial Crimes Commission (EFCC), alongside Waheed Akanbi, on an 11-count charge of money laundering and conversion of N4.7billion from Oyo State treasury to his personal use.