A Federal High Court sitting in Lagos, on Friday struck out corruption charges brought against a former Commissioner for Trades and Investment in Oyo State, Hon Kazeem Adeshile Adedeji.
Adedeji and two others, Yinka Fatoki and Kolawole Adewole had been dragged before Justice Chukwujekwu Anekeof the High Court where they faced a six-count charge bordering on conspiracy and fraud.
Prosecuting counsel, Effiong Asukuo had told the court that sometime in 2012, while Adedeji was still a commissioner, the Oyo State Government entered into a partnership agreement with the Bank of Industry. He further stated that the fund, known as OYSG/B.O.I Fund, was to create a pool from which indigenous entrepreneurs from the state could access credit facilities.
The court was also told that both parties had made a contribution of N500,000,000 each, which amounted to a joint contribution of N1 billion which was meant to promote Micro and Medium businesses in Oyo State. .
It was alleged that Adedeji went on to lodge the contributions into Enterprise Bank where his wife allegedly worked as an account officer. It was also alleged that the lodgement was done without the consent and approval of the Oyo State Government.
The prosecutor further alleged that that the accused then conspired to obtain over N77 million, which the accused granted to Josh-Tolani Ventures, Tembenatil Ventures, Ojoo, God’s Grace Cooperative Society, Agric Preserve Company Ltd, and Adis Steel Works Ltd.
Asuquo told the court that upon investigation at the Corporate Affairs Commission (CAC), it was discovered that none of these companies existed, an offence that contravenes Sections 1(1), 1(3) (a) and 8 of the Advance Fee Fraud and Other Fraud Related Offences Act, Cap A6, Laws of the Federation, 2004.
Adedeji had however stated that the funds could never have been lodged without the consent of the state government.