N8 billion currency scam: Former Nigerian banker jailed 12 years

Naira notes
Naira notes

A Federal High Court in Ibadan, Oyo State, has sentenced a former banker with Wema Bank, Ademola Oni, to 12 years imprisonment for conspiracy and money laundering.

The conviction of Mr. Oni followed his arraignment alongside six other officials of the Central Bank of Nigeria, CBN, as well as 15 others from different commercial banks by the Economic and Financial Crimes Commission, EFCC.

Those arraigned were accused of conspiracy and money laundering.

The bankers allegedly conspired to steal and conceal mutilated and defaced naira notes amounting to N8 billion, from the Central Bank of Nigeria.

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

In his ruling, Justice Joyce Abudmalik convicted Mr. Oni, and sentenced him to 12 years imprisonment for conspiracy and money laundering.

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

Mr. Abudmalik convicted the accused and sentenced him to two and half years on each of the five counts accordingly.

The sentences are to run concurrently


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  • IG

    This judge deserve national honor. May God bless you

  • haba mallam

    concurrently means he will spend only two and half years for each charge instead of 12 years. Nigerian justice system is most lenient in the world.

    • ANOTHER TRIBAL BIGOT-ABI

      WHEN IT DOES NOT CONCERN THE PEOPLE OF THE NIGER DELTA-MOST ESPECIALLY IJAWS———-ANIMALS

    • joe

      It is lenient if you stole millions. If stole billions it becomes impontent. If you stole an orange in the market then it becomes hyperactive.

  • TrueFairGame

    While we welcome convictions, we shouldn’t make plea bargain the norm because it can easily be exploited by a weak system to let criminals off the hook.

    • IZON Redeemer

      Plea bargains are meant for Yorubas and Fulanis ati their Ibo surrogates-And Not those with Ijaw tribal marks——-like Orubebe——Tompolo——–Chief Roberts———Dudafa—————–Mrs Jonathan———–Deizani and Akpobolokemi——-all Ijaws from the creeks of the Niger delta—-That was why late Alams went to jail–while the 31 other governors who stole—-their states blind————-were beatified for sainthood by the Yorubas and Fulanis—ribalism again abi———–the truth——separation is the answer———-not the fake selfish rule of the Fulanis ati Yoruba traitors in PDP ati APC

  • vagabonds in power

    That was how the bloodshed was averted to the glory of Allah. I knew something was really wrong with my brothers. Kano gave Buhari the highest vote. It was massively rigged in his favour. That was why the INEC officer in charge of Kano was burnt alive with his family after the election to cover up the rigging. I wept for my people. Now what are we seeing? Baba has abandoned us. My brothers in the North are dying every day of hunger. Prices of things are so high, we can’t even eat three square meal a day. My Northern Elders are not worried. They are only after power remaining in the North. Not only that, my concern now is what is about to come. They have already planned on how to deal with the Niger Deltans. Of course you are aware that all the military personnel and weapons have been deployed in Niger Delta. They are planning to use the Leaders of MEND to penetrate the creeks. Their only fear now is that IRAN and Russia are behind the Niger Delta Avengers. They have also contacted Jonathan trying to make him sign an agreement that will further enslave the Niger Deltans but Jonathan refused. So Baba is very angry with Jona and will do everything possible to silence the Niger Delta Avengers. As am typing now, Niger Delta has been rounded up militarily. Magnus Abe, Rotimi Amaechi, APC chairman and the leaders of MEND are in the master plan. As for Biafrans, you people are very lucky. Buhari and my Northern Elders knew that Nnamdi Kanu has already created the awareness for you people. So they are planning now to cut South South out of Biafra so that only the five Eastern states can go with their Biafra.

  • vagabonds in power

    Shocking confession by Musa Abdullah on Biafra, N’Delta* As Received (11/SEP/2016) Good Evening Biafrans, My name is Musa Abdullah from Kano state. I studied at Lagos state University and presently working with Kano University of Science and Technology, Wudil. Due to my education, I have been enlightened as to the happenings in Nigeria. We in the North voted for Buhari because he is our brother. We wanted power to return to the North. We knew he cannot fix anything in Nigeria. In our mosques, they always taught us to make sure we remove that infidel call Jonathan. We were meant to hate Jonathan with our spirit, soul and body. Infact, Igbos living in the North were very very lucky. They escaped death by the whiskers through the victory of Baba. Had Baba lost, my brothers where already on standby waiting for instructions to lynch any pig from the South. I was personally in the situation room as things unfold. I felt for the Igbos then. I really pitied them. I knew that my brothers in the North had been brain washed but I dare not speak. I sighed in relief when Baba was declared the winner and my brothers where told to relax, that they should go to the streets and celebrate. That was how the bloodshed was averted to the glory of Allah. I knew something was really wrong with my brothers. Kano gave Buhari the highest vote. It was massively rigged in his favour.

  • joe

    When are we going to hear a single verdict concerning the billions of dollars stolen from people’s treasury by Nigerian politicians and shared with the Nigerian judges.?

  • Man_Enough

    one feeble step forward. the judiciary needs more courage.

  • vagabonds in power

    Plea bargains are meant for Yorubas and Fulanis ati their Ibo surrogates-And Not those with Ijaw tribal marks——-like Orubebe——Tompolo——–Chief Roberts———Dudafa—————–Mrs Jonathan———–Deizani and Akpobolokemi——rvery Ijaw man or woman resident in the creeks of the Niger delta—-That was why late Alams went to prison–while the 31 other governors who stole—-their states blind————-were beatified for sainthood by the Yorubas and Fulanis—Tribalism again abi———–the truth——separation is the answer———-not the fake selfie rule of the Fulanis ati Yoruba traitors in PDP ati APC

  • Excisionist

    FOREX FRAUD &ECONOMIC SABOTAGE
    There is a BIG Forex fraud going on in Nigeria right now. The widening gap between the black market rate and IMTO rates suggests that some cabal is seizing the money remitted by Nigerians in diaspora and making millions out of it. The lower the black market rate, the more profit they make.

    Sanusi recently said that some people make millions in Forex within a short period when he is in his garden
    Their activity is not to stabilizing the Naira at all. Instead it is making the Naira fall and fall and fall.
    This is economic sabotage by it’s proper name. They must be stopped.

    • kezman

      anybody is free to do whatever he/she likes in forex market now. all thanks to CBN. untill CBN and that there dead brain governor emefiele reverses all those policies against BDC, naira will continue to have a free fall. And for your information, it’s the black market that determines the market. nobody cares how much cbn is selling. Only emefiele knows the solution but he is very stubborn.

      • Segun

        Do you really believe Emefiele is in control? I doubt he is. I think he is merely a figurehead. What about the employment of Buhari’s relatives and children of relative and friends of Buhari. My friend, there is a cabal in the middle running the show. Emefiele is an unfortunate tool watching helplessly while the cabal makes millions without lifting a finger.