How N80m loan saved Ladoja from impeachment — Witness

A witness in the ongoing trial of the former governor of Oyo state Rashidi Ladoja has said that the state government took a loan of N80 million to save the governor from impeachment. Waheed Atanda, the first prosecution witness told the Federal High Court in Lagos that the executive committee of the state's leadership processed the loan. Recall that Ladoja and his commissioner for finance Waheed Akanbi are facing trial over N4.7 billion fraud allegedly committed during their tenure in Oyo state.However, in his testimony, Atanda, an associate of the former governor said the loan was taken from Wema Bank. He said: “On N80 million loan from Wema Bank, we had a discussion before writing for a loan, but when the loan went bad, WEMA bank visited Oyo State government and the second defendant (Akanbi)." He said the loan was borrowed through V.T Leasing Limited and disbursed to the state government through the same vendors. In his testimony, Atanda, an associate of the former governor noted that the loan was taken from Wema Bank. He said: “I used V. T. Leasing Limited to apply for the loan from Wema bank, though, am a shareholder with less than one percent, but I used my goodwill to get the loan and I did not make any application." “I did not know the condition attached to giving the vehicles to 14 members of State Assembly loyal to Governor Ladoja, but the vehicles given out by the political actors in Oyo State, were collected by the Oyo State government’s drivers before handling them to 14 Ladoja loyalists at the State House of Assembly. “There was an agreement between V. T. Leasing and the beneficiaries of the vehicles as a backup to the lease agreement. Atanda further told the court that he guarantee the loan from Wema Bank, adding that when the loan from Wema Bank went bad, the bank met to the former governor and his Commissioner for Finance before coming to him," Atanda said. The witness further told the court that another N633 million was collected when Ladoja returned as Oyo state governor. He said the N633 million was part of expenses incurred when he (Atanda) shut down his hotel for one year to house Ladoja and his 14 loyal Assembly members, during the Impeachment saga.