N900m Turning To Paper: Blame Emefiele, CBN, Not Us, EFCC Magu Argues As Court Tells Him To Produce The Money

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By Ola Ajayi

The Economic and Financial Crimes Commission, EFCC has denied reports alleging that about N900 million of mutilated naira notes, being subject of prosecution at the Federal High Court, Ibadan, and kept in several boxes in EFCC’s custody had turned to paper.

The anti-corruption agency described the reports as very mischievous and a gross misrepresentation of facts of the matter.

The commission in a statement issued on Monday stated that the case was reported to the EFCC by CBN in 2015 and the parties involved are currently in court.

The statement read “In the course of investigations,  EFCC operatives visited the CBN office in Ibadan to inspect the said boxes and discovered that the monies had been tampered with. This discovery was what informed the EFCC’s involvement in the case, resulting in the interrogation of suspects and subsequent prosecution.

“At no point were the boxes of the mutilated naira notes taken to the office of the EFCC”

Some of the allegations against the accused persons, according to the commission, read, “That you Patience Okoro Eye;  Afolabi Olufemi Johnson; Ilori Adekunle Sunday;  Kolawole Babalola,  Olaniran Muniru Adeola and Fatai Adedokun Yusuf on or about 5th August, 2014 in Ibadan within the jurisdiction of this Honourable Court, have by virtue of abuse of your office, being employees of Central Bank of Nigeria, contributed to the economic adversity of the Federal Republic of Nigeria when you destroyed a box marked ” Counted Audited Dirty” filled with Newspapers in place of a box containing N10m of N1,000 denomination and which activity led to the increase of money in circulation which the briquetting exercise of Central Bank of Nigeria was intended to control and you thereby committed an offence punishable under Section 1(2) (b) and Section 10 (1) of the Recovery of Public Property (Special Provision) Act, Cap. R4, Laws of Federation Nigeria, 2014.

 “That you Patience Okoro Eye;  Afolabi Olufemi Johnson; Ilori Adekunle Sunday;  Kolawole Babalola,  Olaniran Muniru Adeola and Fatai Adedokun Yusuf on or about 5th August, 2014 in Ibadan within the jurisdiction of this Honourable Court, engaged in corrupt practices when you replaced the content of a box of N1,000 denomination in a N10m marked as ” Counted Audited Dirty” meant for briquetting,  with Newspapers and which sum you converted to  your own use and you thereby committed an offence punishable under Section 1(2) (a) and Section 10 (1) of the Recovery of Public Property (Special Provision) Act, Cap. R4, Laws of Federation Nigeria, 2014″.

EFCC further explained that “at the last hearing, the Court mandated the EFCC to present them (the boxes) at the next hearing as evidence. This is a clear departure from the mischievous accounts of naysayers who erroneously misinterpreted the position of the court to claim that the boxes were tampered with by the EFCC, the commission noted.

Furthermore it said “Members of the public are hereby advised to ignore such disinformation, as it is only being spread to cause harm, unnecessary sensationalism and create doubt in the minds of citizens.

“The media is hereby advised to always seek clarifications on the information before spreading fake news.

“Meanwhile, Mayowa Onabanjo, the kingpin suspect in one of the cases and former staff of Zenith bank is wanted and currently at large”

The statement above and court hearing was gotten from the Economic and Financial Crime Commission official Twitter handle ‘EFCC Nigeria (@officialEFCC)’ see the tweet below

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