CBN Fraud Case: EFCC Makes More Stunning Revelations | Independent Newspapers Limited
Newsletter subscribe


CBN Fraud Case: EFCC Makes More Stunning Revelations

Posted: Jun 12, 2015 at 10:57 am   /   by   /   comments (0)

•Says Over N8b Stolen

MORE facts emerged on Thursday June 11, 2015 at the Federal High Court, Ibadan, where some staff of the Central Bank of Nigeria (CBN) and commercial banks are standing trial over alleged fraud running into billions of naira, as the Economic and Financial Crimes Commission (EFCC), stated that the stolen money was more than the N8 billion being reported in the media.

The EFCC lead counsel, Rotimi Jacobs (SAN),  and other counsel gave this clue while detailing how grave the offences committed were and why the court should not grant the bail applications the accused tendered.

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 counsel 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 counsel, who fought hard to convince the court as to why their clients should be granted bail, include Nathaniel Oke, Michael Lana, Olalekan Ojo and others.