N8 billion currency scam: I screamed on seeing papers instead of money, witness tells court

Naira notes used to illustrate the story.

Adebayo Akintunde, a witness in the alleged N8 billion Central Bank of Nigeria, CBN, currency scam, on Wednesday said that he screamed when he saw cut papers instead of N10 million in a box.

Testifying before Justice Nathaniel Ayo-Emmanuel of the Federal High Court, Ibadan, Mr. Akintunde told the court that on opening the box which was supposed to be containing N10 million of unfit N1,000 denomination, he found well arranged cut newspapers and screamed in fear and astonishment.

The witness, who was one of the treasury assistants in the Ibadan branch of CBN, added that a female official, who was also present, exclaimed over the development.

“I instantly developed stomach upset and I was unconsciously urinating on my body as well as crying because I knew that all of us who opened the boxes would become suspects,” Mr. Akintunde said.

The witness further stated that the then Head of Treasury, Kolawole Babalola ,however, asked him and the other treasury assistants to return the box containing papers as well as the other nine boxes inspected back to the treasury.

Mr. Ayo-Emmanuel adjourned the case till Thursday for continued hearing.

The News Agency of Nigeria reports that Patience Okoro, Johnson Afolabi, Sunday Ilori, Babalola, Muniru Olaniran and Fatai Adedokun, along with others since 2015 had been standing trial over multiple charges.

The charges included conspiracy and re-circulation of N8 billion at Ibadan branch of CBN.



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  • Nkem

    There was nothing that did not happen during Jonathan’s regime. People were even stealing mutilated currency meant for destruction. When we we growing up, we were made to believe that it was something that was near impossible to do. But of course during Jonathan’s time, even the impossible became possible.

    • Tunji Olarewaju

      Under the dumbest one :stealing wasn’t corruption and corruption wasn’t stealing!