The duo were arraigned on Wednesday before Justice Mohammed Idris for an offence the EFCC claimed they committed in 2007.
They were re-arraigned on an 8-count charge bordering on money laundering contrary to Section 17(a) and punishable under Section 14(1) of the Money Laundering (Prohibition) Act, 2004.
The eight counts pressed against them by the EFCC bordered on money laundering and unlawful conversion of funds belonging to Oyo State to their own.
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The anti-graft agency also alleged that Ladoja used N42 million out of the proceeds to purchase an Armoured Land Cruiser Sports Utility Van and remitted about £600,000 to one, Bimpe Ladoja in London.
The charge, marked FHC/L/336c/08, was filed against them in November 2008, on a 10-count charge of conspiring to convert properties and resources derived from an alleged illegal act, with the intention of concealing their illicit origin before Justice Ramat Mohammed, who was then serving at the Lagos Division of the Federal High Court.
The duo however pleaded not guilty to the charge and were later granted bail on the existing conditions given by the judge.
Justice Idris adjourned the matter till February 14, 2017, for trial.