One of the Economic and Financial Crimes Commission (EFCC) investigators in the alleged N8 billion CBN currency scam case, Mr. Saliu Kadri, said that the accused persons breached normal procedures at the Ibadan branch of the apex bank.
Testifying before Justice Joyce Abdulmaleek of the Federal High Court in Ibadan, Kadri stated that many boxes meant to contain N1000 were either filled up with brown papers cut to the size of naira notes or swapped with N500 interleaved with newspapers cut to the size of money.
The witness also claimed that all the accused persons admitted committing the crime.
“Out of the 507 boxes brought in by Zenith Bank, which was supposed to be containing N1.06 billion, N900 million was discovered to be missing,” Kadri said.
Abdulmaleek, however, adjourned the case till March 2 for continuation of trial.
The News Agency of Nigeria (NAN) recalls that two of the accused persons– Kolawole Babalola and Muniru Olaniran —had in separate testimonies told the court that EFCC investigators threatened to kill them if they failed to admit to committing the fraud.
Babalola, Olaniran, Kayode Togun, Samuel Ogbeide and Olawumi Iyan along with others since 2015 have been facing multiple charges bordering on conspiracy, unlawful conversion, stealing and re-circulation of mutilated currency at the Ibadan branch of CBN.