Suspect Involved In N8 bn Currency Scam Gets 12 Years Imprisonment

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A former staff of Wema Bank, Mr. Ademola Oni, who was involved in the N8 billion currency scam has been sentenced to twelve years imprisonment by the Federal High Court sitting in Ibadan.

Mr Oni was arraigned by the Economic and Financial Crimes Commission, (EFCC), alongside six other officials of the Central Bank of Nigeria, CBN, as well as 15 others from different commercial banks on charge bordering on conspiracy and money laundering


The bankers allegedly conspired to steal and conceal mutilated and defaced naira notes amounting to N8 billion, from the CBN.

Recalled that Mr. Oni, a fourth defendant in the case, entered into a plea bargain agreement with the EFCC.

At the hearing on Thursday, the prosecuting counsel, Adeniyi Adebisi, presented the perfected agreement and an amended charge to the court against him.

Mr. Oni pleaded guilty to five of the 24 amended count charges brought against him.

The presiding judge Justice Joyce Abudmalik, in his ruling convicted Mr. Oni, and sentenced him to two and half years on each of the five counts accordingly which amounts to twelve years and to be run concurrently.

The court also ruled that he forfeits all his properties and cash in various banks as proceeds of the crime.


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