Six executives of Central Bank of Nigeria (CBN) and others being prosecuted for eight billion naira mutilated currency recycling fraud, are to remain in prison custody till June 15 .


The development followed the decision of
the court on Tuesday to adjourn the
hearing on a request for their bail to that
date.
At the trial, the counsel to the prosecutor,
the Economic and Financial Crimes
Commission (EFCC) asked the court to
deny the accused persons bail.
The accused CNB executives are;
Patience Okoro Eye; Afolabi Olufemi
Johnson; Ilori Adekunle Sunday;
Kolawole Babalola, Olaniran Muniru
Adeola and Fatai Adedokun Yusuf.
Justice Ayo Emmanuel of the Federal
High Court Ibadan, Oyo State, adjourned
to Monday, June 15, for ruling on the bail
application brought by the accused
persons.
At the sitting, counsel to the EFCC, Mr
Rotimi Jacobs, said his request was
based on the chances that the accused
persons were capable of interfering with
the case.
He also told the court that some of the
accused persons had threatened
witnesses in the case who are staff of the
apex bank, prompting the bank to transfer
such staff.
He said: “In view of Public interest and
the current mood of the nation, it is better
to remand the accused persons in prison
custody or for the hearing to be
accelerated”.
However, counsel to the first accused, A.
Lawal prayed the court to grant bail to
his client, assuring the court that he
would be available to face his trial.
The same argument was canvassed by
counsel to other accused persons who
prayed the court to grant bail on liberal
terms.
After listening to the submissions of the
counsels, Justice Emmanuel adjourned
to the case.
In another case, Mr Jacobs, also prayed
the court to refuse three former staff of
CBN and two staff of Sterling bank bail.
The accused – Kolawole Babalola,
Olaniran Muniru Adeola, Toogun Kayode
Philips (all former staff of the CBN) and
Salami Ibrahim and Oddiah Emmanuel
(both staff of Sterling Bank Plc) – were
arraigned on an 11-count charge
bordering on conspiracy, fraud and
stealing.
Specifically, the bankers were alleged to
have defrauded their banks various sums
of money, totalling 1.141 billion Naira,
using various guises and pretences.
Counsels to the first accused person,
Otunba Bolanle and counsel to the
second and third accused persons,
Olalekan Ojo, were vehement in their
prayers for bail.
Justice Emmanuel adjourned the case to
June 15, for ruling on the bail
applications.
The same scenario played out in the case
involving Babalola, Adeola and Toogun
Kayode Philips and Tope Akintade, staff of
Ecobank Plc, who were docked on a 15-
count charge bordering on conspiracy,
fraud and stealing to the tune of 910.2
million Naira.

source :WWW.channelstv.com/2015/06/09/8bn-naira-scam-cbn-executives-others-to-remain-in-prison-till-june-15/

Yea, while we look for the tape to measure their jail term

Magician1503:
Yea, while we look for the tape to measure their jail term

Lol....

N8 billion is not a small amount!