Home Latest News N8bn CBN fraud: EFCC opposes bail for accused

N8bn CBN fraud: EFCC opposes bail for accused

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AS the trial of some bankers, including the staff of Central Bank of Nigeria and some commercial banks over alleged fraud amounting to N8 billion continues, the Economic and Financial Crimes Commission, EFCC, has urged the Federal High Court in Ibadan to reject their bail applications, noting that the accused persons might jump bail due to the weighty allegations against them.

The anti-corruption agency, which was represented in court by Mr. Rotimi Jacobs and other retinue of lawyers, argued that if the accused persons were granted bail, they could obstruct the course of justice.

Another argument raised against the bail applications filed by the accused persons was that some of them were allegedly harassing the witnesses that could testify against them.

Making reference to some of the accused, who are now at large, he said there was tendency that they too could run away.

When the 31-count charge was read to the accused, the EFCC told the court that some of them, including Idowu Oguntade and others had run away and up till yesterday, the fleeing accused persons were yet to appear in court.

Instead of granting the accused bail, the EFCC counsel urged the court to grant the cases accelerated hearing.

But, counsels to the accused persons submitted that since the offence was a bailable offence, the court should not deny their clients their prayers, adding that their clients had previously proved that they would not jump bail if granted.

The accused persons, who were arraigned in the first batch include, Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunle Sunday, Kolawole Babalola, Olaniran Muniru Adeola and Fatai Adedokun Yusuf.

They were all charged with a five-count charge.

Those docked in the second batch are Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Philips, Salami Ibraheem and Oddia Emmanuel. The commission slammed them with an eleven-count charge.

The third batch includes; Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Philips and Tope Akintade.

They were charged with a 15-count charge.

They were alleged to have made false entry of cash deposited by the EcoBank.

They were accused of making false entry of N490 million at CBN against N79.7 million of N1000 mutilated notes between 2010 and 2015.

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