N8bn fraud: Ordinary primary six leaver, cash assistant has N134m in one account~ EFCC

some of the suspects

Firstclass newsline learnt that the hearing in the Central Bank of
Nigeria N8bn mutilated currency fraud suit continued at the Federal
High Court, Ibadan on Wednesday as the Economic and Financial Crimes
Commission told the court that one of the accused persons, Mr. Ayodeji
Alase, had N134m in one of his bank accounts.
The EFCC told the trial judge, Justice A.O. Faaji, that Alase, a
primary six certificate holder, started work at First Bank as a guard
before he was promoted to the position of a cash assistant.
The lead prosecution counsel for the EFCC, Mr. Rotimi Jacob (SAN),
also told the court that the accused had property worth hundreds of
millions of naira.
Alase, according to the anti-graft agency, has a duplex at Oluyole
Estate in Ibadan, a shopping complex, a warehouse at Podo, a fenced
plot at Dugbe, a block of four flats at Apeye, two plots of land and
five-bedroom flat in other parts of the state capital.
He was alleged to have a credit balance of N132m in one of his bank accounts.
The commission also alleged that Alase possessed a block of
five-bedroom flat at Apete area of Ibadan and a supermarket at New
Garage, Apata area of Ibadan.
Other accused persons, including Olaniran Adeola, Ayodele Adeyemi,
Isiaq Akano and others were also said to own property in South Africa,
filling stations, cement shops, schools, supermarkets, exotic cars and
buildings in several locations in Nigeria.
One of the accused, Mrs. Afolabi Olunike, was alleged to be the owner
of a duplex, several plots of land, a storey building and another
three acres of land.
Earlier during the hearing, Alase had delayed court proceedings when
he claimed not to understand English Language when charges were read
to him. But Jacob rose to fault his claim, alleging that although
Alase was employed as a guard, he rose to become a cash assistant in
First Bank Plc.
Justice Faaji later ruled that an interpreter should be provided for
Alase to ease communication between the court and the accused. He
pleaded not guilty to the charges.
On Wednesday, cases were heard before Justice Faaji in batches with
the first set of accused persons slammed with a 28-count charge.
They are Kolawole Babalola, Olaniran Adeola, Toogun Phillip, Ayodele
Adeyemi, Isiaq Akano, Oyebamiji Akeem, Alase, Ajiwe Adegoke and Idowu
Oguntade, who is still at large.
Three officials of the CBN were among the accused, while others were
from Wema Bank Plc and First Bank Plc.
The prosecution counsel, Rotimi, told the court that the accused
persons were charged with a 28-count charge which included forgery of
documents, conspiracy and stealing.
According to the charge sheet, the accused persons were charged with
intent to defraud and conspiracy to commit an offence punishable under
the Nigerian law.
They were also accused of sharing among themselves mutilated currency
meant to be destroyed and destroying and defacing some boxes used to
move the currency from one bank to the other. They all pleaded not
guilty to all the charges and despite efforts of the counsel to the
accused persons to secure bail for them through oral application,
Justice Faaji ruled that they should be remanded in prisons pending
further hearing.
The case was adjourned to June 8, 2015 for hearing of the bail application.
Firstclassnewsline.net