IBADAN—More indications emerged yesterday 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.


http://www.vanguardngr.com/2015/06/value-of-cbn-currency-fraud-more-than-n8bn-efcc/

ETT

HmmmMmmmmmm

How these guys will avoid spending long jail time is what I can't imagine. They will live to regret their actions for life.

With reference to Sylvia's N19.2billion case that was dismissed, EFCC should "forgive" these thieves also. For all you know, they would most likely be APC members as well. They should go and sin no more. Afterall what is good for the goose should also be good for the gander.

Sai Baba

PassingShot:
How these guys will avoid spending long jail time is what I can't imagine. They will live to regret their actions for life.

Why? How much did they steal? N8billions by 6 people? How about the man that stole N19.2billions, has he been sentenced? After all these people supported Ajimobi and by extension APC, just like Timipre Sylvia. Be fair in your judgement. If you forgave a man who stole N19.2billion, what is wrong in forgiving another that stole a mere N1.33billion. Be a fair judge please.

Xetima:

Why? How much did they steal? N8billions by 6 people? How about the man that stole N19.2billions, has he been sentenced? After all these people supported Ajimobi and by extension APC, just like Timipre Sylvia. Be fair in your judgement. If you forgave a man who stole N19.2billion, what is wrong in forgiving another that stole a mere N1.33billion. Be a fair judge please.

If the man that you claimed stole 19.2billion naira ACTUALLY stole it, three years should have been more than enough for GEJ and his EFCC to nail him. After all, he was in enemies camp throughout. But because the allegation could not be proved and substantiated, they failed to get him convicted in three years.

And if you have any proof, no mattet how remote it is that the presidency had a hand in the court's decision, please bring it forward. We're not in the dark age where "dem say dem say" was relied on as evidence.

If you've read the court's reason for dismissing the case, you will understand that EFCC was only acting a script from GEJ all along.