Nigerian bankers who stole N8 billion: The Economic and Financial Commission, EFCC, on Wednesday, 22nd March, 2017 secured another conviction in the ongoing N8bn Currency Mutilation Scam before Justice Joyce Abdul Malik of the Federal High Court, Ibadan, Oyo State. In her ruling, the judge convicted and sentenced the duo of Toogun Kayode Philip and Afolabi Esther Olunike, former staff of Central Bank of Nigeria (CBN) and Wema bank respectively to eighteen years imprisonment on three counts to run concurrently.
More..
- 15 horrible facts Dubai does not want the world to know about – This will leave you in utter shock (With Pics)
- The stars of Home Alone 25 years later – You won’t believe how they look now (With Pics)
- How to tighten the vag*na and keep away bad smell permanently – #4 and #7 does the magic
- 12 things Rihanna doesn’t want you to know – Number 5 is the main reason why she dated Chris Brown (With Pics)
The convicts who were the 4th and 5th defendants amongst other former bankers standing trial in the ongoing CBN N8bn currency mutilation scam opted for a plea bargain hence, they were convicted accordingly. While Toogun, a former staff of the Central Bank of Nigeria, CBN bagged a three-year jail term on counts 15, 17 and 19 respectively to run concurrently with effect from January 1st, 2016 , Afolabi got three years on counts 16, 18 and 19 respectively to also run concurrently with effect from January 1st , 2016.
The court also ordered that Toogun forfeits to the Federal Government a 3 bedroom apartment situated at Oganla area, off Omi Adio Apata Ibadan, Oyo State, the entire sum in his Access bank and First bank accounts with all the accrued interest as at the date of the conviction.
Afolabi forfeits a 5 bedroom duplex situated at No.8 Fatoke Street, Molete area of Ibadan, a borehole machine/rig, a filing station- Oba Oil Gas Limited located at Liberty Academy area of Ibadan, Oyo State. She shall also forfeit the entire sum in her accounts with First bank, Zenith bank and Guaranty Trust bank respectively.
The convicts alongside other former bankers were arraigned on a 19-count charge bordering on conspiracy, conversion, forgery, and money laundering.
One of the count reads: That you Toogun Kayode Philip and Afolabi Esther Olunike between 2010 and 2012 in Ibadan, within the jurisdiction of this Honourable Court did conspire with Kolawole Babalola, Kehinde Fadokun and Olakunle Sijuwade to convert the sum of N115,000,000.00 (One Hundred and Fifteen Million Naira) which sum was illegally derived from the Central Bank of Nigeria, to wit: by inducing the Central Bank of Nigeria to deliver the said sum to First City Monument Bank Plc as against the actual sum of N58, 331, 900 (Fifty Eight Million, Three Hundred and Thirty One Thousand, Nine Hundred Naira) and you thereby committed an offence contrary to section 17(a) of the Money Laundering (Prohibition) Act. 2004 and punishable under section 14 (1) (a) of the same Act.
CLICK HERE to join our BBM Channel for juicy updates & free giveaways
TRENDING NOW
- 7 reasons why women cry during s*x : The real truth
- 12 things a girl does when she likes you already – If you notice #10, you got her bro!
- A-List Nigerian celebrities who married richer men – #5, #2 and #1 are regretting now (With Photos)
- See the hilarious Whatsapp chat between Thin Tall Tony & his wife after he got evicted on BBNaija
- #BBNaija: Everyone is angry with Bally after he did this to Debie Rise – Even Biggie reacted
- 10 things all women secretly want during s*x – Guys, get in here!
- 5 Nollywood actresses whose marriages unbelievably crashed within 1 year – #2 didn’t even last up to a year (With Pics)
Discussion about this post