Ola Ajayi

IBADAN—A Federal High Court in Ibadan yesterday remanded six officials of the Central Bank of Nigeria and three others in Agodi prison for alleged conversion of mutilated N8 billion pending the hearing of their application for bail.

The accused persons were arraigned over allegations of conspiracy, diversion and stealing of N8bn mutilated currency which they ought to have destroyed.

At the sitting of the court yesterday which was presided over by Justice Ayo Emmanuel, the charges against the accused persons were alleged conversion of N10m mutilated currency of N1,000 denomination and not N80 billion that was earlier reported.

According to the charges, the accused persons did not carry out the directive of the Central Bank of Nigeria, CBN, by allegedly substituting the mutilated money with newspapers cut to its size, thereby subverting the apex bank’s effort at reducing dirty money in circulation.

They were arraigned on a five-count charge which they all pleaded not guilty  to. The accused persons include Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunke Sunday, Kolawole Babalola, Olaniran Muniru Adeola, and Fatai Adedokun Yusuff, Salami Ibrahim , Odiah Emmanuel, Toogun Kayode Phillips. Roy Akinsiku and Sobowale O. were said to be at large.

Though, counsel to the accused persons made oral bail applications, which the EFCC prosecutor, Mr Rotimi Jacobs, SAN, opposed,   the Judge ordered all of them to be remanded in prison custody till June 9 when their bail applications will be heard.

Other counsel of the anti-corruption commission   include Sunday Aborisade, Rotimi Oye, Adebayo Ojo, O.M. Atoyebi, Sola Olanibiire, while the accused persons were represented by K.A. Lawal, Bolam Alabi, A.O. Ajayi, Otunba Olayinka  Bolanle, and B.B.M. Ashie of Olalekan Ojo’s Chambers.

According to the charge sheet, the accused persons “on or about 5th August, 2014 in Ibadan within the jurisdiction of this honourable court have by virtue of abuse of your office being employees of Central Bank of Nigeria contributed to the economic adversity of the Federal Republic of Nigeria when you destroyed a box marked “Counted Audited Dirty” filled with newspapers in place of a box containing N10m of N1,000 denomination, and which activity led to the increase of money in circulation which the briquetting exercise of CBN was intended to control.”