CBN N8bn Fraud; The Accused persons admits Committing the Crime

The Economic and Financial Crimes Commission on Thursday told Justice Adeyinka Faaji of the Federal High Court, Ibadan Division, that one of the accused persons in the N8bn mutilated currency fraud, Oni Dolapo, actually confessed to committing the offence during investigation.
Lead counsel for EFCC, Rotimi Jacobs (SAN), also told the court how Dolapo allegedly conspired to defraud the Central Bank of Nigeria of the sum of N1.3bn under the pretext that the sum in mutilated notes, brought from Wema Bank, was meant to be destroyed.
The counsel said Dolapo, in his confessional statement to the commission, admitted that the amount was packed in 173 boxes from the CBN vault.
The prosecution counsel said the accused person used the proceeds of his fraudulent acts to purchase choice property in Ibadan and other places.
Some of the property, according to the Jacobs, include four plots of lands at Eleyele, Ibadan valued at N3m; three acres of land at Ona-Ara, Ibadan, and two acres of land at Ido Local Government, Ibadan, which he acquired in 2012.
The EFCC also alleged that another accused person, Olunike Esther Afolabi, also confessed to have made N30m form the deal.
Jacob added that Afolabi owned petrol filling stations, tankers, borehole drilling machine, a Kia Cerrato car and a house at No 15, Akuru, Oluyole extension in Ibadan.
EFCC said Afolabi also confessed that she owned an old house around Faleke, Challenge area of Ibadan, which she bought from its original owner at N7m.
The sum of N4m, according to the commission, was used to renovate the building in 2012 and that Afolabi had the sum of N10m in a bank account.
Counsel for Ademola Adewale, O.E Ige and D.G. Olufokunbi, prayed the court to grant him bail because his sin was not as huge as others.
Olalekan Ojo, who is counsel for Olaniran Muniru and Kayode Philips, also prayed that the court to grant his clients bail because they did not abscond when they were granted administrative bail at the inception of investigation by EFCC.
Jacobs, however, opposed the bail applications for the accused persons.
EFCC argued that since the accused persons had admitted their crimes during investigation, the court should grant accelerated hearing instead of wasting time on bail applications.
Justice Faaji fixed June 19 for ruling on the bail applications.CBN
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