JUSTICE Ayo Emmanuel of a Federal High Court,
Ibadan, on Tuesday remanded six officials of the
Central Bank of Nigeria arraigned for stealing and
circulating mutilated Naira notes meant for
destruction by the apex bank.
The six — Patience Okoro, Afolabi Johnson, Ilori
Sunday, Kolawole Babalola, Olaniran Adeola and Fatai
Yusuf — were arraigned by the Economic and
Financial Crimes Commission, charged for
conspiracy, diversion and stealing of mutilated naira
notes worth N8bn.
They were also accused of replacing the mutilated
currencies with cut-to-size newspapers and
converting the money to their personal use.
Others charged alongside the CBN officials were
Kayode Philips, Salami Ibrahim and Odiah Emmanuel.
They were charged with conspiracy with other
officials of CBN and other banks.
Two others-Roy Akinsiku and O. Sobowale-were said
to be at large.
Counsels for the accused persons made oral
applications for bail but the judge refused the
applications and ordered that the accused be
remanded in the EFCC office or at the Criminal
Investigation Department, Iyaganku Police Division,
Ibadan.
Justice Emmanuel has also fixed Tuesday, June 9,
2015 for argument of the written bail applications
and fixed July 6 and 7, 2015 for the commencement
of trial.
The CBN had said that some of its official had been
investigated and found to have compromised their
integrity by stealing and circulating mutilated
currency billed for destruction.
“During a routine internal audit of the bank’s cash
destruction activities in September 2014, the CBN
Briquetting Panel comprising senior bank staff from
different branches noticed some anomalies at the
Ibadan branch, and immediately reported this to the
bank’s management. On further investigation
ordered by the governor, it was discovered that a
systematic scheme, which has been on for several
years, was being run in which mutilated higher
denomination notes originally meant for destruction
were swapped with lower denomination currencies,”
the apex bank had said in a statement.
The EFCC prosecution team led by Rotimi Jacobs
(SAN) included the immediate past Commissioner for
Justice and Attorney General in Oyo State, Mr.
Adebayo Ojo; A. Adebisi, Sunday Aborisade, Rotimi
Oye, O.M. Atoyebi, Sola Olanibiire.
The accused persons were represented by K.A. Lawal,
Bola Alabi, A.O. Ajayi, Olayinka Bolanle, and B.B.M.
Ashie of Olalekan Ojo Chambers.
The five count charge read to the accused persons
said they committed an offence under Section 7 (2)
of the Bank Employees (Declaration of Assets) Act
Cap. B1 Laws of the Federal Republic of Nigeria.
One of the counts against the bank officials read,
“The accused persons on or about 5th August, 2014
in Ibadan within the jurisdiction of this honourable
court engaged in corrupt practices when they
replaced the content of a box of N1,000 notes
denomination in a total sum of N10m marked as
‘Counted Audited Dirty’ meant for briquetting with
newspapers and which sum you converted to your
own use and you thereby committed an offence
punishable under Section 1 (2) (a) and Section 10 (1)
of the Recovery of Public Property (Special Provision)
Act Cap. R4 Laws of the Federal Republic of Nigeria.”
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