Dhaka - A Dhaka court Monday acquitted Bangladesh's former military dictator Hussein Muhammad Ershad of graft charges brought more than 16 years ago involving a shady deal in setting up digital telephone networks in rural areas.

Divisional Court Special Judge Md Golam Mortuza announced the verdict clearing the former president and three of his co-accused of corruption charges, court officials said.

"Finally, I got justice after so many years," an apparently happy Ersahd, who had earlier served a prison term in other corruption cases, told newsmen after the verdict was pronounced.

He was accused in incurring a loss of more than 280 million taka (4 million dollars) for his unilateral decision to take loans from the French government instead of receiving a grant from Finnish authorities to set up microwave telephone links in 89 sub-districts during his nine-year dictatorship beginning in 1982.

A graft case was lodged in 1992, two years after he was overthrown by a mass uprising, accusing him of misappropriation of public money.

The deposed president now heads the Jatiya Party, a major component of Bangladesh's ruling Awami League-led alliance.

His party has 25 lawmakers in the 300-strong parliament and a minister in Sheikh Hasina Wazed's administration, which assumed office early last month following the landslide victory in late December general elections. (dpa)