Value Of CBN Currency Fraud More Than N8 Billion – EFCC

More indications emerged have at the Federal High Court, Ibadan, where some bankers from the Central Bank of Nigeria and commercial banks are standing trial over alleged fraud running into billions of naira as the Economic and Financial Crimes Commission, EFCC, told the court that the stolen money was more than the N8 billion being reported in the media.

The anti-corruption commission represented by its counsel, Mr. Rotimi Jacobs (SAN) and other counsel gave this hint while proving the enormity of the offences committed and reason why the court should not grant the bail applications the accused tendered to the court.

 He said, “There are other boxes they poured acid on. That alone contained N3.9 billion. The money stolen is even more than N8 billion that the media is writing.”

According to him, the commission, during one of its investigations, discovered that there were over 8,000 boxes that were yet to be opened by the CBN in its strong rooms and on opening 107 of the boxes for the First Bank that should contain N1.7 billion, only N256,000 was found in them.

He further told the court how the accused were alleged to have made confessional statements that they actually committed the offence.

At the sitting presided over by Justice Adeyinka Faaji, all the counsels to the accused submitted that the offence was a bailable and that the court reserved the discretion whether or not to grant the accused bail. The counsels who include Mr. Nathaniel Oke, Michael Lana, Olalekan Ojo and others fought spiritedly to convince the court why their clients should be granted bail

Author: News Editor

2787 stories / Browse all stories

Related Stories »

Provide your email below, and we will notify you the latest news freely.


calendar »