Ibadan CBN N8bn Scam, Court Postpone Ruling till June 19

The preceding judge on the CBN scam case, Justice Adeyinka Faji of the Federal High Court sitting in Ibadan on Thursday fixed June 19 to rule on bail applications by eight bank officials charged with N8 billion currency scam.

The bank officials, CBN employees, were arraigned on June 3 on a 28-count charge by the Economic and Financial Crimes Commission (EFCC).

The CBN officials are Kolawole Babalola, Olaniran Adeola and Togun Kayode. Others  joined in the suit were five employees of First Bank Plc – Isiak Akano, Ayodele Festus, Oyebamiji Akeem, Ayodeji Aleshe and Ajiwe Sunday.

Counsels for the accused urged the court to grant the accused bail to enable counsel have access to them, but Mr Rotimi Jacobs, counsel to EFCC, urged the court not to grant the accused bail in view of the enormity of the charge and the fact that the CBN officials had multiple charges in seven other suits.

EFCC counsel also told the court that if granted bail the accused would interfere with its witnesses. He also mentioned that  some of the accused had threatened the witnesses and in view of this they should not be granted bail.

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