N8b fraud: Last batch of CBN, Zenith staff arraigned in Ibadan, remanded in prison

Ahead of the July 6, 2015 trial of the 22 accused persons charged with the N8b mutilated cash fraud involving the

Central Bank of Nigeria (CBN) and many other commercial banks, the

Economic and Financial Crimes Commission (EFCC), Thursday

arraigned the last batch of bank officials charged with the monumental fraud.

Arraigned before ‎Justice Adeyinka Faaj of a Federal High sitting in Ibadan, Oyo state capital, were three CBN staff, namely Kolawole Babalola, Olaniran Muniru Adeola and Toogun Kayode Phillip.

Also arraigned were Ajuwon Bolade and Samuel Ogbeide, both staff of Zenith Bank Plc.‎

The accused persons were said to have conspired with other two people: Onabanjo Olumayowa and Tijani Olusoga, who were at large, between 2011 and 2012 in Ibadan. They allegedly delivered on false pretence a sum of N1,060,000,000 to the CBN, with an intent to defraud, conspired , and commit an offence contrary to Section 8 (a) of the Advance Fee Fraud and Other Related Offences Act, 2006 and punishable under Section 1(3) of the same Act.

A 14-count charge was preferred against the accused and they all pleaded not guilty to the charges.

Responding to the charge, one of the accused persons, Ajuwon Bolade even said: “I am not guilty my Lord because I am still living in a rented apartment”.

Justice Faaj, however, fixed June 12 for hearing of motion on bail applications on behalf of the accused persons while ordering that the five accused be remanded in Agodi Prisons.

Hearing of motions on their bail applications will be heard by the two trial judges, Justice Ayo Emmanuel and Justice Adeyinka Faaj, next week.

Justice Emmanuel will on June 9 hear the bail applications of the first batch of the accused arraigned on Monday, while Justice Faaj will hear his on June 8 and 12.