The anti-graft agency on Friday told the Presiding Justice Olayinka Faji that the long arm of the law and Eagle eye of the operatives of the Economic and Financial Crimes Commission (EFCC) had finally caught up with the fleeing banker Tijani Olusoga.

Olusoga was one of the 22bankers currently standing trial before the Federal High Court in Ibadan for recirculating over N8billion mutilated currencies back to the economy contrary to the directives of the Central Bank of Nigeria that the 'bad monies' be mopped from circulation.

The EFCC lawyer, Rotimi Jacobs, SAN said the relentless efforts of the operatives of the commission had finally paid off in a way that the fleeing Olusoga would now be made to face justice alongside others already fighting for their bail after spending close to two weeks in Agodi prisons where they were ordered remanded by the both Justice Faji and Justice Nathaniel Ayo-Emmanuel of courts 2 and 1 respectively.

Though another banker, Onabanjo Olumayowa is still at large Jacobs who made the disclosure of Olusoga's arrest while addressing the court on the need to amend an error in the name of a suspect explained that he intended to make the amendment in such a way that it would integrate the arraignment of Olusoga.

Efforts by reporters to get details of his arrest from Jacobs did not yield fruits as he merely said the suspect would be facing 11-count charge alongside four others and would be charged accordingly before the trial judge, Justice Faji.

Olusoga was alleged to have conspired and defrauded the Central Bank of Nigeria (CBN) between 2011 and 2012 with his colleague, Oluwamayowa (now at large), Ajunwa Bolade and Samuel Ogbeide in the same commercial bank as well as three staff of the Central Bank of Nigeria (CBN): Kolawole Babalola, Olaniran Muniru Adeola and Toogun Kayode Philip.

According to the 14-count charge preferred against them by the EFCC, the accused persons allegedly induced the CBN to deliver N1,060,000,000 to the commercial bank against the actual sum of N159,431,700 on false pretence.

They allegedly claimed that the 106 boxes containing the supposed mutilated currencies, which were taken to the Ibadan branch of CBN contained a total sum of N1,060,000,000, and thereby committed an offence.

The EFCC contended the actual sum that was delivered to the apex bank was N159,431,700. But the officials of the commercial bank and the CBN purportedly increased the amount to N1.060billion.

The accused persons purportedly owned assets to wit, the sum of N900,568,300, which they allegedly shared among themselves, adding that the sum formed part of the money forwarded by the commercial bank to CBN.

The accused persons were arraigned before Justice Faji last week Thursday and they pleaded not guilty to the 14-count charge preferred against them by EFCC. The court then ordered that they should be remanded in the prisons and fixed June 12 for hearing of bail applications.

Those that appeared in court yesterday for the first batch were: Kolawole Babalola, Muniru Adeola, Toogun Kayode Philip of CBN while Kehinde Fadokun and Olutunde are from commercial banks.

As usual, yesterday's session was also full of arguments and counter arguments as judge stood down for two consecutive terms to enable counsel perfect some affidavits and further affidavits as the case gets underway.


Justice Faji, however, fixed June 19, for ruling on the bail applications.

http://www.thisdaylive.com/articles/efcc-arrests-fleeing-banker-in-n8bn-currency-scam/211880/ Cc: lalasticlala, Ishilove

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