Court Convicts Banker Over Role in N8bn Mutilated Naira Scandal

An official of Wema Bank, who alongside six other officials of the Central Bank of Nigeria, as well as 15 others from different commercial banks was arraigned by the Economic and Financial Crimes Commission (EFCC) for conspiracy and money laundering, Ademola Oni, has been sentenced to 12 years imprisonment.
He was sentenced by the Federal High Court in Ibadan, Oyo State.
The court convicted the former banker with Wema Bank to 12 years imprisonment for conspiracy and money laundering.
The bankers allegedly conspired to steal and conceal mutilated and defaced naira notes amounting to N8bn, from the Central Bank of Nigeria.
Oni, who was the fourth defendant in the case, entered into a plea bargain agreement with the EFCC.
At the hearing on Thursday, the prosecuting counsel, Adeniyi Adebisi, presented the perfected agreement and an amended charge to the court against him.
Ademola pleaded guilty to five of the 24 amended count charges brought against him.
In his ruling, Justice Joyce Abudmalik convicted Oni, and sentenced him to 12 years imprisonment for conspiracy and money laundering.
The court also ruled that he forfeits all his properties and cash in various banks as proceeds of the crime.
The properties to be forfeited by the convict are an empty plot of land fenced with black gate located along the road beside Secam Church, Providence Estate, Sango Eleyele Expressway, Ibadan.
He is also to forfeit a Honda Accord Car 2014 model and another empty plot of land located at Alao Akala Estate, along Akubu Ojuirin, near Apostolic Church, Ikolaba, Ibadan.
Others are a storey building located at Aminu Olaniran Street, Ikolaba behind the Apostolic church, Ikolaba Assembly, Ikolaba, Ibadan; and three acres of land at Okuna Village, Along Akufo Village, by Fumakson filling station, Ido Local Government Area, Ibadan.
An empty plot of land at No. 16, Awolowo Avenue, Old Bodija, Ibadan; a storey building located at No. 16, Awolowo Avenue, Old Badija, Ibadan; and a borehole machine are to be forfeited also.
He is also to forfeit several sums in bank accounts, including N43,259,441.22 in a fixed deposit account with FCMB; N70,614.60 in the name of ‘De-City-Life Enterprise with account No. 22749019 also domiciled with FCMB; another N7,189.22 in the name of Oni Iyabo Mary in the same bank; and N966,788.81 in the First Bank account of Ezomal Ventures, among others.
Abudmalik convicted the accused and sentenced him to two and half years on each of the five counts accordingly. The sentences are to run concurrently

Author: News Editor

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