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Banker sentenced for diverting funds from CBN

08 October 2016, 06:49

Lagos - A former banker with the Wema Bank, Ademola Oni, has been sentenced to 12 years in prison for conspiracy and money laundering.

The Federal High Court, sitting in Ibadan, Oyo State also ordered that he forfeits all his properties and cash in various banks as proceeds of the crime.

Also read: Jibrin urges Minister of Finance to halt payment to Reps

The Economic and Financial Crimes Commission (EFCC) arraigned the convict 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 conspired to steal and conceal mutilated and defaced local currency amounting to N8 billion from the CBN, who was the fourth defendant in the matter, however, opted for a change of plea and entered into a plea bargain agreement with the prosecuting counsel.

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

- CAJ News


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