Saturday, February 4, 2023

N8bn CBN fraud: EFCC faults defendant’s earlier testimony

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Rayyan Alhassan
Rayyan Alhassan
Rayyan Alhassan is a graduate of Journalism and Mass Communication at Sikkim Manipal University, Ghana. He is the acting Managing Editor at the Daily Nigerian newspaper, a position he has held for the past 3 years. He can be reached via [email protected], or, or @Rayyan88 on Twitter.
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The Economic and Financial Crimes Commission, EFCC, on Thursday, said that Kolawole Babalola, defendant, in the mutilated eight billion naira CBN scam had earlier been indicted by an investigative panel.

Adebisi Adeniyi, the EFCC counsel, dismissed the earlier testimony of Babalola during the cross-examination of the defendant standing trial before Justice Nathaniel Ayo-Emmanuel of the Federal High Court in Ibadan.

Mr Babalola had earlier informed the court that he was never indicted by any panel in the course of his duty as the head of treasury unit at the Ibadan branch of CBN.

However, the EFCC counsel tendered some documents containing the report of one investigative panel that indicted the defendant in 2014.

According to Mr Adeniyi, the report that indicted Mr Babalola bordered on how the prequetting or money counting exercise where the defendant and the other accused persons allegedly shared N1000 and N500 denominations contained in the boxes respectively.

Mr Babalola, however, explained to the court that he did not understand the report of the investigative panel to be an indictment.

The judge consequently adjourned the suit until Nov. 9 and Nov. 10 for continuation of trial.

Mr Babalola, Muniru Olaniran, Patience Okoro, Sunday Ilori, Samuel Ordia along with others have since 2015 been facing multiple charges bordering on conspiracy, unlawful conversion, stealing and recirculation of mutilated currency.

The offences were allegedly committed at the Ibadan bench of the Central Bank of Nigeria, CBN.

Ayo-Emmanuel urged all the parties in the matter to be proactive as the case was taking too long to conclude.

He added that a judge was not static, but often moves from place to place.


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