The 22 bank officials who were remanded at Agodi Prison by the Federal High Court sitting in Ibadan, Oyo State will today know their fate as proceedings into their bail application commence.
The officials were arraigned in three batches before the court by the Economic and Financial Crimes Commission (EFCC) for theft and recirculation of defaced and mutilated currencies of over N8billion into the public.
The first nine bank officials who were involved in the fraud with two others at large, were however charged with conversion of N10million mutilated currencies of N1, 000 denomination meant to be destroyed by the directive of the Central Bank of Nigeria (CBN) and substituting them with newspapers cut to its size, there by subverting the apex bank’s effort at reducing dirty money in circulation.
The bankers who were arraigned before Justice Ayo Emmanuel were: Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunke Sunday, Kolawole Babalola, Olaniran Muniru Adeola, and Fatai Adedokun Yusuff.
Others were Salami Ibrahim, Odiah Emmanuel, Toogun Kayode Phillips, as well as Roy Akinsiku and Sobowale O. (who were both at large).
The accused persons were arraigned on a five-count charge, which they all pleaded not guilty to.
Also, another 14 bank officials including a nursing mother were arraigned at the same court charged with the same offence.
During the last batch, five of them were arraigned.
Despite spirited oral bail applications by the lawyer to the accused persons, to which the EFCC prosecutor, Mr Rotimi Jacobs (SAN) opposed, the judge ordered them to be remanded in prison custody till June 9 when proper and formal bail applications would be argued.
The five bank officials included three from the Central Bank of Nigeria (CBN) and the remaining two from commercial banks in the state.
They were yesterday remanded at Agodi Prison by a Federal High Court sitting in Ibadan, Oyo State.
The accused who were arraigned before Justice Adeyinka Faaji, were Kolawole
Babalola, Olaniran Muniru Adeola, Toogun Kayode Philip, Ajuwon Bolade and Samuel Ogbeide.
They were said to have conspired with two other suspects, Onabanjo Olumayowa and Tijani Olusoga, who are now at large, between 2011 and 2012 in Ibadan, and delivered on false pretence a sum of N1,060,000,000 to the CBN, Ibadan branch, instead of N159,431,700, that should have been in the 106 boxes containing the supposed mutilated currencies.
The lead prosecution counsel to EFCC, Mr. Rotimi Jacobs (SAN), said the accused had allegedly committed an offence contrary to Section 8(a) of the Advanced Free Fraud and other Fraud Related Offences Act 2006, and punishable under Section 1(3) of the same Act.
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