The Economic and Financial Commission, EFCC, on Wednesday, 22nd March, 2017 secured another conviction in the ongoing N8bn Currency Mutilation Scam before Justice Joyce Abdul Malik of the Federal High Court, Ibadan, Oyo State.

In her ruling, the judge convicted and sentenced the duo of Toogun Kayode Philip and Afolabi Esther Olunike, former staff of Central Bank of Nigeria (CBN) and Wema bank respectively to eighteen years imprisonment on three counts to run concurrently.

The convicts who were the 4th and 5th defendants amongst other former bankers standing trial in the ongoing CBN N8bn currency mutilation scam opted for a plea bargain hence, they were convicted accordingly. While Toogun, a former staff of the Central Bank of Nigeria, CBN bagged a three-year jail term on counts 15, 17 and 19 respectively to run concurrently with effect from January 1st, 2016 , Afolabi got three years on counts 16, 18 and 19 respectively to also run concurrently with effect from January 1st , 2016.
The court also ordered that Toogun forfeits to the Federal Government a 3 bedroom apartment situated at Oganla area, off Omi Adio Apata Ibadan, Oyo State, the entire sum in his Access bank and First bank accounts with all the accrued interest as at the date of the conviction.

Afolabi forfeits a 5 bedroom duplex situated at No.8 Fatoke Street, Molete area of Ibadan, a borehole machine/rig, a filing station- Oba Oil Gas Limited located at Liberty Academy area of Ibadan, Oyo State. She shall also forfeit the entire sum in her accounts with First bank, Zenith bank and Guaranty Trust bank respectively.
The convicts alongside other former bankers were arraigned on a 19-count charge bordering on conspiracy, conversion, forgery, and money laundering.

One of the count reads: That you Toogun Kayode Philip and Afolabi Esther Olunike between 2010 and 2012 in Ibadan, within the jurisdiction of this Honourable Court did conspire with Kolawole Babalola, Kehinde Fadokun and Olakunle Sijuwade to convert the sum of N115,000,000.00 (One Hundred and Fifteen Million Naira) which sum was illegally derived from the Central Bank of Nigeria, to wit: by inducing the Central Bank of Nigeria to deliver the said sum to First City Monument Bank Plc as against the actual sum of N58, 331, 900 (Fifty Eight Million, Three Hundred and Thirty One Thousand, Nine Hundred Naira) and you thereby committed an offence contrary to section 17(a) of the Money Laundering (Prohibition) Act. 2004 and punishable under section 14 (1) (a) of the same Act.

http://www.metronaija.com/2017/03/n8bn-mutilated-currency-scam-two.html

Hmmm... at the end of the day they forfeited everything they have plus jail time so what's the gain in it

Untrusted, greediness and the act of perversions had cause them jail term..

Untrusted, greediness and the act of perversions had cause you jail term..

Justice served. How can one enjoys millions hardwork

Nigeria is fast changing...

Where is lalasticlala sef

Imagine

Alhamdulillah

Dats it,gud 4 dem, dat ws Hw I went 2 open a new account at GTB, d account officer after opening d account, diverted 51k out of d money I gave hm, 4 almost a month, d bank ws telling me stories, I had 2go dere wt 2 weed smokers, dey went dere and stopped d activities of d bank, d BM finally showed up and my money paid, thieves everywhere

Good development. And very swift judgment too.

.While Toogun, a former staff of the Central Bank of Nigeria, CBN bagged a three-year jail term on counts 15, 17 and 19 respectively to run concurrently with effect from January 1st, 2016 , Afolabi got three years on counts 16, 18 and 19 respectively to also run concurrently with effect from January 1st , 2016.
Its just 2years lol they are just using the long apostle to decieve Nigerians, this country is fuccked

Hmm

I'm not surprised... Na them them

A is for Afonja
B is for brown roof republic
C is for cone heads
D is for Dullards
E is for eleye people
F is for Fulani slaves

ETC

OmoIgala:


Ndi Osu keyboard fighters be rushing into this thread to come and do E war like...

lol

Good for them

thank God o. I thought the case has been swept under carpet. Now am believing in Nigeria. Those notes were really mutilated. I had to go into the banking hall to change them.



Pls next thing is to make clean notes (Mint) available to everyone. We only get them at parties as if those selling it are higher Nigerians. Please FG should look into the distribution of new naira notes in the country.

Come to think of it, why would I buy 10 x 100naira notes for 1200 naira, all because I wan spray for party wey rice no even sure. Abeggiiii

Serves them better.....

o boy!!! See as them reset people to default settings!!!

Larryfest:
Hmmm... at the end of the day they forfeited everything they have plus jail time so what's the gain in it

They no learn well from dasuki d don, Almeseigha the cop, nd all erstwhile embezzlers

Finally, some conviction.

To0 bad, na we we nah. Financial crimes emanates from west Germany

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