Nathaniel Ayo Emmanuel, justice of the federal high court, Ibadan, Oyo state, has dismissed the bail application brought by six former staff of the Central Bank of Nigeria (CBN) who are being prosecuted for over N8 billion mutilated currency recycling fraud.
The accused persons are Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunle Sunday (pictured) Kolawole Babalola, Olaniran Muniru Adeola and Fatai Adedokun Yusuf.
According to Wilson Uwujaren, spokesman of the Economic and Financial Crimes Commission (EFCC), Emmanuel dismissed their application because the interest of the accused alone could not be considered while looking at their application but that of the common man and society.
“He said the court was refusing the accused persons bail because of the gravity of the offence, which borders on the economy and well-being of the people of the country,” the EFCC spokesman explained.
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“Justice Emmanuel dismissed their application and ordered for accelerated hearing. He also warned counsel that he would not entertain frivolous applications.”
The accused persons were arraigned two weeks ago on a 28-count charge bordering on fraud and stealing. Specifically, the former apex bank employees are alleged to have compromised the CBN’s Briquetting exercise meant to combat the inflationary spiral in the economy, occasioned by excess dirty notes.
Justice Emmanuel adjourned the matter to July 6 and 7 for trial.
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