{"id":18326,"date":"2017-10-19T14:23:41","date_gmt":"2017-10-19T13:23:41","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=18326"},"modified":"2017-10-19T14:23:41","modified_gmt":"2017-10-19T13:23:41","slug":"n8b-cbn-scam-n8-3m-substituted-paper-ecobank-staff","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/n8b-cbn-scam-n8-3m-substituted-paper-ecobank-staff\/","title":{"rendered":"N8b CBN scam: How N8.3m was substituted with paper, by Ecobank staff"},"content":{"rendered":"<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">Mr Omotayo Sowunmi, a witness in the \u00a0alleged N8 billion Central Bank of Nigeria (CBN) currency scam case,\u00a0<span class=\"aBn\"><span class=\"aQJ\">on Wednesday<\/span><\/span>\u00a0said that the apex bank \u00a0lost N8.3 million in a single box meant to contain N10 million.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">Testifying before Justice Nathaniel Ayo-Emmanuel of the Federal High Court, Ibadan, Sowunmi, a staff of Ecobank, said he was present when the box meant to contain 20 bundles of N1,000 was opened.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">\u00a0He \u00a0said that the box was, however, \u00a0filled with lower denominations of the naira \u00a0and paper \u00a0cut to the size of \u00a0currency notes.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">\u201cOnce the box was opened, it was very obvious to everyone present that the box contained interleaves of lower naira notes and paper \u00a0cut to the size of money.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">\u201cEach bundle was only covered with few N1,000 notes so as to make it look as if all the notes there were N1,000 notes.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">\u201cFurthermore, after all our calculations, it was discovered that only N1.7 million of the actual sum of N10 million could be found while the CBN lost N8.3 million,\u201d said Sowunmi.<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">Corroborating Sowunmi\u2019s testimony, a CBN official, Mr Max Ekeagba, said that he was also present when the mutilated naira notes were discovered to have been replaced with cut paper.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">The News Agency of Nigeria (NAN) reports that Ekeagba is a Senior Supervisor in \u00a0the Currency Disposal Unit at the Ibadan branch of the CBN.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">Ayo-Emmanuel adjourned the case till \u00a0<span class=\"aBn\"><span class=\"aQJ\">Nov. 7<\/span><\/span>\u00a0for continuation of trial.<\/p>\n<p class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">NAN recalls that Kolawole Babalola, Muniru Olaniran and Kayode Togun along with others have been on \u00a0trial since 2015.<\/p>\n<div class=\"m_-7168758215321563704ydp2406d9edMsoNormal\">The accused are facing multiple charges bordering on conspiracy, unlawful conversion, re-circulation of mutilated currency and stealing of N8 billion at the Ibadan office of \u00a0CBN.<\/div>\n<\/p><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Mr Omotayo Sowunmi, a witness in the \u00a0alleged N8 billion Central Bank of Nigeria (CBN) currency scam case,\u00a0on Wednesday\u00a0said that the apex bank \u00a0lost N8.3 million in a single box meant to contain N10 million. Testifying before Justice Nathaniel Ayo-Emmanuel of the Federal High Court, Ibadan, Sowunmi, a staff of Ecobank, said he was present &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":6,"featured_media":18327,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[36,814],"coauthors":[2391],"class_list":["post-18326","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-cbn","tag-ecobank"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>N8b CBN scam: How N8.3m was substituted with paper, by Ecobank staff - 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