Skip to main content

Ex-banker jailed 12 years over N8bn currency scam

Ademola Oni

Ademola Oni

A former banker with Wema Bank Nigeria Plc, Ademola Oni was on Thursday October 6, 2016 convicted and sentenced to twelve years imprisonment for conspiracy and money laundering by Justice Joyce Abudmalik of the Federal High Court, Ibadan, Oyo State.

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

Among properties forfeited by the convict are: an empty plot of land fenced with black gate located along the road beside Secam church, Providence Estate, Sango Eleyele Expressway, Ibadan; a Honda Accord Car, 2014 model, with registration number AGL 12 CX; another empty plot of land located at Alao Akala Estate, along Akubu Ojuirin, near Apostolic Church, Ikolaba, Ibadan; a storey building located at Aminu Olaniran Street, Ikolaba behind the Apostolic church, Ikolaba Assembly, Ikolaba, Ibadan; three acres of land at Okuna Village, Along Akufo Village, by Fumakson filling station, Ido Local Government Area, Ibadan; an empty plot of land at No. 16 Awolowo Avenue, Old Bodija, Ibadan; a storey building located at No. 16 Awolowo Avenue, Old Badija, Ibadan and a borehole machine.

He is also to forfeit several sums in bank accounts. They include the sum of N43,259, 441.22 in a fixed deposit account with FCMB, N70,614.60 in the name of ‘De-City-Life enterprise with account No. 22749019 also domiciled with FCMB, another N7,189.22 in the name of Oni Iyabo Mary in the same bank and N966,788.81 in the First Bank account of Ezomal Ventures, among others.

The journey to prison started for Ademola when he was arraigned alongside six former officials of the CBN and fifteen others from different commercial banks in an alleged case of conspiracy and money laundering.

The bankers allegedly conspire to steal and conceal mutilated and defaced local currency amounting to eight billion naira (N8bn) from the Central Bank of Nigeria.

Ademola, who was the 4th defendant in the matter, however, entered into a plea bargain with the prosecution, and pleaded guilty to an amended charge.

At the resumed hearing Thursday 6th, October, the prosecuting counsel, Adeniyi Adebisi presented the perfected agreement and an amended charge to the court against him. Ademola pleaded guilty to 5 of the 24-count amended charge.

Justice Abudmalik convicted him and sentenced him to two and half years on each of the five counts. The sentences are to run concurrently.

One of the Count reads that you, Oni Ademola Dolapo, between 2010 and May 2011 in Ibadan, within the jurisdiction of this Honourable Court did collaborate with Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Philip, Afolabi Esther Olunike, Ademola Ebenezer Adewale and Omotosho Abimbola to conceal the genuine nature of an aggregate sum of N1, 391,280,190.00 (One billion, three hundred and ninety one million, Two hundred and eighty thousand, one hundred and ninety naira) which sum was illegally derived from the Central Bank of Nigeria, to wit: by inducing the Central Bank of Nigeria to deliver the said sum to Wema Bank Plc as against the actual sum of N338, 719, 810. 00 (Three hundred and Twenty eight million, seven hundred and nineteen thousand, eight hundred and ten naira) and thereby committed an offence punishable under section 14 (1) (b) of the Money Laundering (Prohibition) Act, 2004.

The trial of the other defendants in the charge continues.

Labels

Labels:

Comments

Post a Comment

Popular posts from this blog

Pope not involved in Colombian peace deal- Vatican

Pope Francis Pope Francis has turned down a request to play a role in the peace deal between the Colombian government and the Revolutionary Armed Forces of Colombia (FARC) rebel group. The Vatican in a statement issued on Wednesday in in Vatican City said that an invitation was sent to his Holiness in early August to appoint a representative to participate in the committee that selected the judges for the talks. The statement said that though Pope Francis supported the peace process, he, however, reiterated that he would not get involved in Colombian peace deal. It said that Pope was praying for the enlightenment of the hearts and minds of those who were called to promote the common good of the Colombian nation. A deal was announced last week, putting an end to five decades of internal conflict between government forces and the FARC rebels. The agreement, which needed to be ratified through a referendum in Oct. 2, would entail setting up a special court to grant amnesties or pu...
Post a Comment
Read more

Houthis Claim Attack on Central Israel in Response to Gaza ‘Massacres’

The ongoing conflict between Israel and Hamas has taken a concerning regional turn as the Houthi rebels in Yemen claimed responsibility for an attack on central Israel. The group announced this as part of their escalating response to what they describe as "massacres" in Gaza amid the Israeli military’s operations in the strip. Details of the Attack The Houthis, a Shiite militant group with ties to Iran, declared that they launched missile and drone strikes targeting Israel. While the exact impact of these attacks remains unclear, reports suggest that Israel’s defense systems intercepted several threats over its airspace. This marks a significant escalation as the Houthis widen their involvement in the conflict beyond their typical operations within Yemen and neighboring Saudi Arabia. The Houthis’ Justification In their statement, the Houthis framed the attack as retaliation for Israel’s military actions in Gaza, which they characterized as indiscriminate bombings resultin...
Post a Comment
Read more

Fall of Assad is a Blow to Russia's Prestige

The potential fall of Syrian President Bashar al-Assad, a long-standing ally of Russia, would mark a turning point in Moscow’s global influence, particularly in the Middle East. Steve Rosenberg’s analysis underscores the profound implications for Russia, which has invested heavily—both militarily and politically—in ensuring Assad’s survival over the past decade. This article delves into why Assad’s downfall would strike at the core of Russian prestige and what it could mean for the broader geopolitical landscape. Russia's Strategic Commitment to Syria Since the outbreak of the Syrian civil war in 2011, Russia has been a staunch supporter of Assad's regime. In 2015, Moscow launched a military intervention that proved decisive in stabilizing Assad’s hold on power. This intervention solidified Russia's role as a key power broker in the Middle East and demonstrated its willingness to project military power far beyond its borders. Syria is not just an ally for Russia; it is a...
Post a Comment
Read more