Tiger Spices

Tiger Spices


Friday, 7 October 2016

N8bn CBN Currency Scam: Ex Banker Bags 12 years Jail Term

Justice Joyce Abudmalik of the Federal High Court, sitting in Ibadan Oyo State, Thursday, 6th October convicted one Ademola Oni, a former banker with the Wema Bank, and sentenced him to 12 years imprisonment for conspiracy and money laundering. The court also rules that he forfeits all his properties and cash in various banks as proceeds of the crime.

The journey to prison started for Ademola when he was arraigned by the EFCC alongside six former officials of the CBN and fifteen others from different Commercial banks in an alleged case of conspiracy and money laundering.

The bankers allegedly conspire to steal and conceal mutilated and defaced local currency amounting to eight billion naira (N8bn) from the Central Bank of Nigeria. Ademola, who was the 4th defendant in the matter, however, opted for a change of plea and entered into a plea bargain agreement with the prosecuting counsel.

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