N8b ‘mutilated’ cash scam: Security guard owns shopping complex, supermarket, warehouse, duplex, plots of land

The trial of suspects in connection with the Central Bank of Nigeria (CBN) N8 billion mutilated cash scam continued on Wednesday with a revelation that stunned the Federal High Court, Ibadan, Oyo State.
Details of the property owned by one of the suspects, Ayodele Alase, a security guard with the First Bank, who was recently promoted as an assistant cash officer, were reeled out.
Alase, a primary six certificate holder, owns a supermarket, a five-bedroom flat, a duplex, a shopping complex, a warehouse, a fenced plot, a four-flat building and two plots of land of five-bedroom flat.
Other suspects also own choice property in South Africa, filling stations, supermarkets, cement shops, schools and exotic vehicles.
Alase, who had earlier engaged Justice A. O. Faaji on the whereabouts of his counsel, later declared that he didn’t understand English language when the first count charge was read to him.
Counsel to the Economic and Financial Crimes Commission (EFCC), Rotimi Jacobs (SAN), was angry.
To him, if Alase could not speak English, he would not have been promoted from a security guard to a cash assistant.
Proceedings were delayed until an interpreter was found.
Other accused persons were Olaniran Muniru Adeola, Ayodele Festus Adeyemi, Isiaq Akano, Kolawole Babalola, Toogun Phillip, Oyebamiji Akeem, Ajiwe Sunday Adegoke, Idowu Oguntade, and others at large.
Jacobs told the court that the accused persons were charged with a 28-count charge including document forgery‎ with intent to defraud, conspiracy, among others, of an aggregate sum of N1.25 billion as against the actual sum of N389,296,535 “on the false pretence that the 142 boxes containing supposed mutilated currencies which were taken to the Ibadan branch of the CBN contained a total sum of N1.25billion”.
They all pleaded not guilty and Justice Faaji ordered that they be remanded in Agodi Prison, Ibadan, pending the determination of the bail applications they filed.