Ex-Bankers Indicted in CBN Mutilated Currency Scam Lied About Bribe Demand from EFCC

The Economic and Financial Crimes Commission (EFCC) has
described the claim that its investigators pressured former bankers
for a bribe of N96 million for their release on bail as untrue. The
bankers are standing trial for allegedly defrauding the Central
Bank of Nigeria in the mutilated currency scam.

The EFCC, in a statement, said three former bankers, Ayodele
Adeyemi, Ishaq Akano and Ajiwe Adegoke, had in separate affidavit
deposed to at the Federal High Court, Ibadan, Oyo State, and
published in an online platform, alleged that one Hammadama Bello,
an operative of the EFCC asked them to raise N96 million to be set
free.

The trio, who are among the ex-bankers indicted in a mutilated
currency scam which investigation commenced in November 2014,
alleged that Bello orchestrated their detention in a ‘German Cell’
in Abuja and forcefully seized their properties for their inability
to meet the bribe demand.

However, in a sworn counter-affidavit deposed to at the Federal
High Court, Ibadan on December 7, Bello, described the averments of
the defendants as not only prejudicial to the pending criminal
charge at the Federal High Court, Ibadan, but also a “blatant
falsehood, concocted to malign and damage my hard earned
reputation.

“I did not at any time request for the sum of N500, 000 or any
other sum from either Ayodele Festus Adeyemi or any of his
colleagues.

“I did not at any time demand for N12 million or any other sum
from the defendants or from any other person.

“I did not ask any lawyer to collect any money from any of the
defendants and I challenge Mr. Festus Adeyemi to name the said
Senior Advocate of Nigeria.”

Bello also averred that he was not in a position to influence
the release of the defendants as he was merely a member of the
investigating team. According to him, “I was not one of the leaders
of our team constituted to investigate the case and I could not
have promised Mr. Festus Adeyemi or any other person that he would
not be prosecuted.”

He described the alleged inhuman treatment of the defendants as
“fiction” and described the so called “German Cell” as
non-existent, insisting that the condition of the EFCC cell where
the defendants were detained is decent.

“Contrary to the averments contained in paragraph 19 of the
affidavit, I am not aware of the existence of any ‘German cell’ in
the EFCC or in any other place.

“That I am aware that the EFCC cell is one of the best in the
country with facilities such as fans, toilets, bathrooms and
beddings,” he said.

He wondered why it took Adeyemi and his colleagues six years to
come up with this tale of bribery and described the false averments
as desperate gambit by the defendants to incite the public against
the EFCC, having unsuccessfully tried to set aside the interim
forfeiture of their alleged proceeds of crime.

Adeyemi and his co-defendants were alleged to have swindled the
CBN of hundreds of millions of Naira by fraudulently depositing
boxes of N10, 000,000.00 in supposed N1000 notes with ordinary
papers, N5 notes, N10 notes, fake currencies and at times with N100
notes while the correct value of N10, 000,000:00 was given the
deposit money banks in respect of each of the boxes.

Bello alleged that “Ayodele Festus Adeyemi and his First Bank
colleagues offered huge sums of money to Kolawole Babalola,
Olaniran Muniru Adeola and Toogun Kayode Philip as their shares of
the fraud in order to allow mutilated, interleafed or corroded bank
notes to be accepted by the Central Bank of Nigeria, Ibadan
Branch.”

Adeyemi allegedly used the proceeds of the crime to acquire the
following properties: i. Duplex with BQ at Kolapo lshola Estate,
Bashorun Akobo, Ibadan; ii. Three bungalows of 10 flats of two
bedroom at Oladigbo Street, Ogungbade Area, off New Ife Express
Road, Ibadan; iii. MRS Filling Station at Old Ife Road, New Gbagi
Market opp. Stanbic IBTC Bank, Ibadan; iv. A Camry Car, ash colour
with registration No: KJA 569 BF; v. A bungalow of two bedrooms,
comprising two flats at No. 3 Bankole Street, Alaaka, Adegbayi
Ibadan; vi. A fenced empty plot of land with black gate at Lt. Col.
Abimbola Onipede Close, opp., His Mercy Academy, off Bethel
Secondary School Junction, off Alakia, Isibo Road Ibadan; vii. A
fuel station, AZOP OIL at Lagos/Benin Express Way, Ore, Ondo
State.

Adeyemi was also alleged to own monetary assets in the sum of
N10, 000, 000.00, deposited in the account name of MRS Petroleum
Plc; the sum of N132, 334.41 in First Bank Account No. 3022677380,
Account Name: Adeyemi Enitan Olufunke; the sum of N316, 2660.77 in
First Bank Account No. 2004308313, Account Name: Adeyemi Ayodele
Festus; the sum of N207, 972.13 in Zenith Bank Account No.
1014010089, Account Name: Oja Omo Jesu Multibiz Ltd, a company in
which he is the alter-ego and whose assets are in excess of his
legitimate, known and provable income.

To forestall the dissipation of these assets, the EFCC initiated
a forfeiture preceding that led to their seizure on interim basis.
Contrary to the claim by Adeyemi that Bello seized his properties
and had been collecting rent on them, such forfeiture proceedings
are handled by the Legal and Prosecution Department of the EFCC
while the Commission’s Assets Forfeiture and Recovery Management
Directorate handled the management of seized assets.

“I did not and could not have employed the services of an agent
to manage the forfeited assets,” Bello declared.

The Economic and Financial Crimes Commission (EFCC) has
described the claim that its investigators pressured former bankers
for a bribe of N96 million for their release on bail as untrue. The
bankers are standing trial for allegedly defrauding the Central
Bank of Nigeria in the mutilated currency scam.

The EFCC, in a statement, said three former bankers, Ayodele
Adeyemi, Ishaq Akano and Ajiwe Adegoke, had in separate affidavit
deposed to at the Federal High Court, Ibadan, Oyo State, and
published in an online platform, alleged that one Hammadama Bello,
an operative of the EFCC asked them to raise N96 million to be set
free.

The trio, who are among the ex-bankers indicted in a mutilated
currency scam which investigation commenced in November 2014,
alleged that Bello orchestrated their detention in a ‘German Cell’
in Abuja and forcefully seized their properties for their inability
to meet the bribe demand.

However, in a sworn counter-affidavit deposed to at the Federal
High Court, Ibadan on December 7, Bello, described the averments of
the defendants as not only prejudicial to the pending criminal
charge at the Federal High Court, Ibadan, but also a “blatant
falsehood, concocted to malign and damage my hard earned
reputation.

“I did not at any time request for the sum of N500, 000 or any
other sum from either Ayodele Festus Adeyemi or any of his
colleagues.

“I did not at any time demand for N12 million or any other sum
from the defendants or from any other person.

“I did not ask any lawyer to collect any money from any of the
defendants and I challenge Mr. Festus Adeyemi to name the said
Senior Advocate of Nigeria.”

Bello also averred that he was not in a position to influence
the release of the defendants as he was merely a member of the
investigating team. According to him, “I was not one of the leaders
of our team constituted to investigate the case and I could not
have promised Mr. Festus Adeyemi or any other person that he would
not be prosecuted.”

He described the alleged inhuman treatment of the defendants as
“fiction” and described the so called “German Cell” as
non-existent, insisting that the condition of the EFCC cell where
the defendants were detained is decent.

“Contrary to the averments contained in paragraph 19 of the
affidavit, I am not aware of the existence of any ‘German cell’ in
the EFCC or in any other place.

“That I am aware that the EFCC cell is one of the best in the
country with facilities such as fans, toilets, bathrooms and
beddings,” he said.

He wondered why it took Adeyemi and his colleagues six years to
come up with this tale of bribery and described the false averments
as desperate gambit by the defendants to incite the public against
the EFCC, having unsuccessfully tried to set aside the interim
forfeiture of their alleged proceeds of crime.

Adeyemi and his co-defendants were alleged to have swindled the
CBN of hundreds of millions of Naira by fraudulently depositing
boxes of N10, 000,000.00 in supposed N1000 notes with ordinary
papers, N5 notes, N10 notes, fake currencies and at times with N100
notes while the correct value of N10, 000,000:00 was given the
deposit money banks in respect of each of the boxes.

Bello alleged that “Ayodele Festus Adeyemi and his First Bank
colleagues offered huge sums of money to Kolawole Babalola,
Olaniran Muniru Adeola and Toogun Kayode Philip as their shares of
the fraud in order to allow mutilated, interleafed or corroded bank
notes to be accepted by the Central Bank of Nigeria, Ibadan
Branch.”

Adeyemi allegedly used the proceeds of the crime to acquire the
following properties: i. Duplex with BQ at Kolapo lshola Estate,
Bashorun Akobo, Ibadan; ii. Three bungalows of 10 flats of two
bedroom at Oladigbo Street, Ogungbade Area, off New Ife Express
Road, Ibadan; iii. MRS Filling Station at Old Ife Road, New Gbagi
Market opp. Stanbic IBTC Bank, Ibadan; iv. A Camry Car, ash colour
with registration No: KJA 569 BF; v. A bungalow of two bedrooms,
comprising two flats at No. 3 Bankole Street, Alaaka, Adegbayi
Ibadan; vi. A fenced empty plot of land with black gate at Lt. Col.
Abimbola Onipede Close, opp., His Mercy Academy, off Bethel
Secondary School Junction, off Alakia, Isibo Road Ibadan; vii. A
fuel station, AZOP OIL at Lagos/Benin Express Way, Ore, Ondo
State.

Adeyemi was also alleged to own monetary assets in the sum of
N10, 000, 000.00, deposited in the account name of MRS Petroleum
Plc; the sum of N132, 334.41 in First Bank Account No. 3022677380,
Account Name: Adeyemi Enitan Olufunke; the sum of N316, 2660.77 in
First Bank Account No. 2004308313, Account Name: Adeyemi Ayodele
Festus; the sum of N207, 972.13 in Zenith Bank Account No.
1014010089, Account Name: Oja Omo Jesu Multibiz Ltd, a company in
which he is the alter-ego and whose assets are in excess of his
legitimate, known and provable income.

To forestall the dissipation of these assets, the EFCC initiated
a forfeiture preceding that led to their seizure on interim basis.
Contrary to the claim by Adeyemi that Bello seized his properties
and had been collecting rent on them, such forfeiture proceedings
are handled by the Legal and Prosecution Department of the EFCC
while the Commission’s Assets Forfeiture and Recovery Management
Directorate handled the management of seized assets.

“I did not and could not have employed the services of an agent
to manage the forfeited assets,” Bello declared.