Alleged N8bn fraud: You’ve a case to answer, Court tells ex-CBN official

A Federal High Court sitting in Ibadan on Friday held that the a former official of the Central Bank of Nigeria, Kolawole Babalola had a case to answer in the alleged N8 billion currency scam instituted against him.

Ruling in the no case submission filed before him, Justice Ayo Emmanuel said that all the extra judicial statements tendered against Babalola by the Economic and Financial Crimes Commission (EFCC) proved that his hands were not clean and must convince the court that he is innocent.

“I have considered all the exhibits tendered by the defense counsel in respect of this suit and that the defendant must prove to the court that he had no hands in the 11 charges instituted against him.

“I will therefore overrule the no case submission by Babalola,” Emmanuel ruled.

The judge adjourned continuation of trial until Oct. 24, 25 and 26.

Meanwhile, the court rejected the oral withdrawal of services as a counsel by Mr Olayinka Bolanle, counsel to the second defendant.

Citing the provisions of the Administration of Criminal Justice Act (ACJA) 2015, the judge ruled that it amounted to illegality for any counsel not to give the court a three-day notice before withdrawing from a case.

Bolanle had earlier complained to the court that many media sources such as radio, newspapers and Internet sorces had on Thursday afternoon circulated his name as frustrating smooth trial, an action that had dented his reputation.

However, Mr Adebisi Adeniyi, counsel to the EFCC had prayed the court to discountenance Bolanle’s excuse for withdrawal, describing it as a mere blackmail.

It was reported that Bolanle had on Wednesday’s court hearing informed the court that he was indisposed.

Reports state that Babalola, Muniru Olaniran, Johnson Afolabi along with others were charged in 2015 with conspiracy, forgery, unlawful conversion, stealing and recirculation of mutilated currencies at the Ibadan branch of CBN.