…Other boxes of N3.9b destroyed with acid, water for cover up
A Federal High Court sitting in Ibadan, the Oyo State capital was yesterday told that a number of boxes containing N3.96 billion were allegedly damaged by the bankers standing trial in the N8 billion mutilated currency scam.
Lead counsel to the Economic and and Financial Crimes Commission (EFCC), Mr Rotimi Jacobs (SAN) told the court while arguing that bail application for the eight accused persons in the first case should be refused.
According to Jacobs (SAN), there was an overwhelming evidence against the accused which includes destruction of boxes of N10 million mutilated notes each but which could not be accessed due to the acid and water poured on them.
The lawyer also revealed that at a particular time, 107 boxes of N1,000 notes were also opened before the accused only to discover that N773 million had been stolen from them. The boxes were from First Bank Nig. Ltd
He faulted defence counsel’s further affidavit on the first accused, Mr Kolawole Babalola, describing it as incurably defective. Jacobs reminded the court that Babalola was facing six other sister cases that could make him abscond if granted bail. He pointed out that Babalola was the one coordinating the scam as a CBN staff.
Jacobs also opposed bail applications for the seven other accused persons on the strength that the offences are weighty and that there was overwhelming evidence against them.
Justice Olayinka Faj reserved ruling on the applications for bail to June 19.
Earlier, counsel to the eight accused persons adopted their addresses, affidavits and replies on point of law. They also made oral adumbrations in support of their processes.
The eight accused persons standing trial in the case include members of staff of the CBN and First Bank Limited. They are accused of conspiracy, among other charges.
The accused are Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Philips, Isiak Akanno, Ayodele Festus Adeyemi, Oyebamini Akeem, Ayodeji Alese and Ajiwe Sunday Adegoke.