N8.5bn CBN fraud: EFCC accuses bankers of ‘delay tactics’

The Economic and Financial Crimes Commission (EFCC), on Friday, told a Federal High Court in Ibadan, Oyo State not to allow some bankers working for the Central Bank of Nigeria (CBN) hold the court to ransom.
The position was stated by EFCC counsel, Mr. Rotimi Jacobs (SAN).
The CBN staff and others working for some commercial banks were accused of fraud involving N8.5 billion.
To Jacobs, the accused are using technicalities to hold the court to ransom and delay their trial because of an appeal they filed in August.
The suspects were charged with illegally substituting billions of mutilated naira currency belonging to CBN for newspaper cuttings which they burnt.
Their counsel had approached the Appeal Court, challenging the refusal of bail to their clients.
The counsel asked Justice Ayo Emmanuel to stay proceedings in the matter, pending the decision of the Appeal Court on the bail application.
The accused persons standing trial include Kolawole Babalola, Olaniran Muniru Adeola, Toogun Philips, Salami Ibrahim and Emmanuel Odia.
The second batch include Okoro Eye, Afolabi Olufemi Johnson, Ilori Olukunle, Kolawole Babalola, Olaniran Muniru and Fatai Adedokun Yusuf, while in the third batch are Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Philips and Tope Akintade.‎
While Jacobs countered the request of L.O. Yusuff to stay proceedings in the matter, he said: ‎”My learned friend went to sleep since July when the case was adjourned and they have not bothered to serve me any record. There is no record and no brief. They can’t come here and move a motion for stay of execution. For the fact that they have filed an appeal doesn’t mean they should delay the proceeding.
“Your lordship, this counsel only filed an appeal and went to sleep. We are professionals. I felt bad when, that day, the other counsel was saying before the next adjourned date in October, the trial judge would have disqualified himself. In other climes, judges are well respected”, Jacobs said.
Counsel to the defendants, however, insisted that a lower Federal High Court should suspend proceedings, pending the determination of an appeal filed against the refusal of bail for their clients, adding: ‎”We can’t abandon this appeal when our clients are in prison. The appeal has to do with fairness”‎.
Justice Emmanuel, therefore, adjourned the matter till October 27 for ruling on the argument.