This Day (Lagos)
29 August 2008
The Economic and Financial Crimes Commission (EFCC) yesterday arrested former Oyo State governor, Senator Rashidi Ladoja, over allegations of non-remittance of the proceeds of sale of shares totaling N1.9 billion during his administration.
[ See Article ]
As much as I don't care that much for the plight of Ladoja nor the late Adedibu, I concur with Gishola's observation. Even the Financial Times of London's article "Open Season on OBJ" have seen thru this current administration and its brand of EFCC sensational politic of witch-hunting. I would call this payback time "The Revenge of the Lootocrat."
One wonders if the sale of shares is normally handled by the governor of a state and when such shares are sold, there is no procedure for the accountant general of the state to account for such a revenue. The feeling is that such a procedure exists and, there is a hunch, that it might have been followed but with the present administration in the country, the policy seems to shout wolf where there is non especially in the area of corruption in order to try to destroy the names of those that are seen by the public as really not corrupt. This has been the strategy partly as vengiance for their being restrained from practising their corrupt ways during Obasanjo's administration and partly to cover their path now. TRHE WORLD IS WATCHING!