the N8bn fraud CBN Officials Remanded In Prison till 6th july (SEE PHOTO)

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The six officials of the Central Bank of Nigeria (CBN) implicated in an N8bn scam, were today remanded in prison custody following their arraignment by the Economic and Financial Crimes Commission (EFCC).

The suspects were arraigned a Federal High Court, in Ibadan on a five -count charge on conspiracy, fraud and stealing.
The bank employees were alleged to have compromised the bank’s briquetting exercise, which is meant to mop up mutilated and defaced higher denomination currencies from circulation, to combat inflation.


The suspects pleaded not guilty when the charges against them were read.
The prosecuting counsel, Rotimi Jacobs (SAN) in light of their plea, prayed the court for a trial date and for the defendants to be remanded in prison custody. He also opposed their bail applications and urged counsel to the defendants to present their bail applications formally to court.
The counsel to K. A. Lawal the 1st accused,  made an oral application for bail, which the other counsel followed.

The case was adjourned to June 9 for hearing of the bail applications and July 6 and 7 for commencement of trial by Justice N. Ayo Emmanuel. The defendants were remanded in Agodi prison custody, Ibadan.

See more photos from the arraignment and the suspets below:







Meanwhile the Director, Corporate Communications (CBN), Alhaji Ibrahim Muazu in a statement explained that it was during a routine internal audit of the Bank’s Cash Destruction activities in September 2014, that the anomalies at the Ibadan branch was discovered.
                       

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