How suspects in N8 billion currency scandal stole N511 million cash – Witness

Picture of cash used to illustrate the story

The second prosecution witness in the N8billion CBN currency scam case, Abiodun Alabadan, on Tuesday said that the accused persons stole N511 million cash.

Testifying before Justice Nathaniel Ayo-Emmanuel of the Federal High Court, Ibadan, Mr. Alabadan, an auditor with Sterling Bank of Nigeria, said he witnessed the inspection and counting of the money.

He said officers of the Economic and Financial Crimes Commission, EFCC, and the Central Bank of Nigeria, CBN, were also present during the cash count.

Mr. Alabadan said that Ibrahim Salami and Emmanuel Ordia with two others, now at large, were employees of Sterling Bank.

He said both men connived with some CBN employees to replace the N1,000 denominations contained in all 61 boxes with cut newspapers or interleaf and lower denominations.

Mr. Alabadan also said that the 61 boxes of N1,000 denomination were supposed to contain N610million in all.

Justice Nathaniel Ayo-Emmanuel , however, adjourned continuation of trial in the case until Wednesday.

The News Agency of Nigeria reports that Kolawole Babalola, Muniru Olanira, Kayode Togu and others are standing trial over multiple charges bordering on conspiracy and recirculation of mutilated currency at the Ibadan branch of CBN.



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