CBN transfers workers amid threats by colleagues

Central Bank of Nigeria

Central Bank of Nigeria

from OKORO CHINEDU in Lagos, Nigeria
LAGOS, (CAJ News) – SOME Central Bank of Nigeria (CBN) executives whose prosecution the Economic and Financial Crimes Commission (EFCC) is seeking for N8 billion mutilated currency recycling fraud, have allegedly been threatening witnesses.

Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunle Sunday, Kolawole Babalola, Olaniran Muniru Adeola and Fatai Adedokun Yusuf, and others are facing trial at the Federal High Court Ibadan, Oyo State.

Counsel to the EFCC, Rotimi Jacobs, prayed the court not to grant the accused persons bail as they were capable of interfering with the case.

He told the court that some of the accused persons had threatened witnesses in the case, including who are staff of the apex bank, prompting the bank to transfer such workers.

He said in view of the public interest and the current mood of the nation, it was better to remand the accused persons in prison custody and order for accelerated hearing.

The case has been adjourned to next Monday for hearing.

The apex bank employees were alleged to have compromised an exercise by the CBN meant to mop up mutilated and defaced higher denomination currencies from circulation, to combat inflation.

Instead of destroying the currencies, they allegedly recycled the notes and substituted them with newspapers neatly cut to naira sizes.

The suspects are pleading not guilty.

– CAJ News

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Posted by on Jun 10 2015. Filed under Finance, Finance & Banking. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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