Court throws out bail application of CBN staff involved in N8bn mutilated currency scam


A bail application filed by staff of Central Bank of Nigeria (CBN) involved in the N8 billion mutilated currency fraud has been rejected by a Federal High Court sitting in Ibadan, Oyo State, on Monday.

The first batch which involved Kolawole Babalola , Olaniran Muniru Adeola, Togun Kayode Phillips, Isaq Akano, Ayodele Festus Adeyemi, Oyebamiji Akeem, Ayodeji Aleshe, and Ajiwe Sunday Adegoke came first, but the defendants’ counsel, Mr. Olalekan Ojo, failed to appear in court.

The court was told that the counsel was sick, so ruling on the application was stalled.

The second batch included the 2nd and 3rddefendants – Olaniran Muniru Adeola and Togun Kayode Phillips.

The duo also appeared in the first batch.

The presiding judge, Justice Abdul-Malik J.O, in her ruling on the bail application for the 2nd and 3rd defendants, said, “having considered the fact of the case and the findings and decision of the appellate court, the court stood heavily against the bail application for the 2nd and 3rd defendants and the application is hereby dismissed.”


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