N8bn CBN scam: Court rejects bail application as EFCC presents witnesses
Judge JO Abdulmalik of the Federal Supreme Court in Ibadan on Wednesday refused to give bail to the defendants in the $ 8 billion mutilated money fraud case involving officials of the Nigerian Central Bank and some commercial banks. When the case arose to decide on the application for bail, the Economic and Financial Crimes Commission brought two witnesses to court. One of the witnesses, Mr. Ademola Oni, is a former banker of Wema Bank Plc, while the other, Mr. Edwin Ennah, retired as head of the unit of possession and disposition of currency in the CBN. Oni had entered into an agreement to regain custody, while Ennah was among those arrested when the fraud was detected in 2014, but was later released. Oni told the court during an interrogation by the defense lawyer that he contacted Olaniran Muniru and Togun Kayode when he visited the CBN to deposit money. Some of the defendants 'lawyers said the judge could have rejected the defendants' bail request in preference fo...