Kolawole Babalola, Olaniran Muniru, Toogun kayode Philips, Afolabi Esther Olunike and Ademola Ebenezer are facing trial before Justice Joyce Abdulmalik of the Federal High Court, Ibadan, Oyo State for their roles in the currency scam
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At the reopening of hearing, charges instituted by the Economic and Financial Crimes Commission were read out to the accused persons and they all pleaded not guilty
The five officials are Ademola Adewale of Wema Bank; Kehinde Fatokun, Olukunle Sijuade of First City Monument Bank; and Ajuwon Bolade and Samuel Ogbeide of Zenith Bank
The accused persons – Patience Okoro Eye, Afolabi Olufemi Johnson, Ilori Adekunle Sunday Kolawole Babalola, Olaniran Muniru Adeola and Fatai Adedokun Yusuf – are being prosecuted by the Economic and Financial Crimes Commission over N8 billion mutilated currency recycling fraud
The bank officials were arraigned by the Economic and Financial Crimes Commission on a 14-count charge bordering on forgery and possession of assets in excess of their legitimate, known and provable income and assets