N8 Billion Fraud: Court Remands Suspects In Prison

At the Federal High Court, Ibadan Division on Monday, formal application for the bail of the accused persons in the N8bn Central Bank of Nigeria mutilated currency fraud suit could not be concluded at.

Oral applications by various counsels for the accused persons were rejected by Justice Faaji last week when the accused were arraigned by the Economic and Financial Crimes Commission.
Two cases, involving application for bail, were separately heard on Monday.

The accused were brought to the court in an old prison vehicle with number plate PRISONS PS 577 A0/1.
At a point when it refused to function properly, prisons officials pushed the van to jump start it after proceedings.
The case took a new turn as relatives of the accused persons almost attacked journalists, who were taking their photographs.
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At the hearing on Monday, the proceeding was short as counsel for some of the accused persons in the two batches said they had yet to be served the court processes while some said they got theirs late on Friday.

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Those who applied for bail in the first batch are Kolawole Babalola, Olaniran Adeola and Kayode Phillip of CBN.
Others are Isiaq Akano, Ayodele Adeyemi, Oyebamiji Akeem, Ayodeji Alase and Ajiwe Adegoke.
In the second batch, Oni Dolapo, Esther Olunike Afolabi, Ademola Adewale, Kolawole Babalola, Olaniran and Kayode Phillip also applied for bail through their lawyers.
They were also ordered by Justice Faaji to be remanded in prison.

Earlier this month, spokesman to the EFCC, Wilson Uwujaren stated in a statement that the scam involved “theft and recirculation of defaced and mutilated currencies,”
Justice Olayinka Faaji ordered the accused persons to remain in prison custody until next Thursday when the bail application will be heard.