Alleged N8bn CBN Currency Scam: EFCC ordered to produce 106 boxes containing stolen money

by on October 4, 2019

A Federal Court in Ibadan, Oyo State, on Friday ordered the Economic and Financial Crimes Commission (EFCC) to produce 106 boxes containing N900 million allegedly stolen by two staff of Zenith Bank.

The EFCC charged Bolade Ajuwan and Samuel Ogbiede alongside six Central Bank officials for the alleged offence.

It accused the CBN’s employees of stealing huge sums of mutilated higher denomination Naira currencies meant to be exchanged for new notes.

The other bankers allegedly acted as accomplices to the crime and also helped themselves to a sizeable chunk of the money.

When the charges were read to them, they pleaded not guilty.

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Justice P.I. Ajoku of the Federal High Court ordereed the EFCC to produce the boxes that containing the money.

It gave the order after an EFCC witness, Saliu Kadir, testified alongside two CBN officials, Kolawole Babalola and Muniru Olaniran.

The EFCC said that each of the 106 boxes was meant to contain N10 million of N1000 denomination, instead, they were found to be containing interleaves and lower denominations such as N100, N50, N20 and even ordinary papers.

The judge adjourned the case until Dec. 2 and Dec. 3 for the continuation of trial.


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