N8bn CBN Currency Scam: Banker Bags Seven and Half Years Imprisonment

Justice Emmanuel Ayo Nathaniel of
the Federal High Court sitting in Ibadan, Oyo State on Wednesday, December 14,
2016 convicted and sentenced one Tope Akintade, a former staff of Ecobank,
Ibadan branch to two and half years imprisonment on each of the three counts charges of
stealing and conspiracy pressed against him by the Economic and Financial
Crimes Commission, EFCC.
Akintade was convicted over his complicity in the infamous
N8billion CBN currency mutilation Scam.
The convict is also to forfeit a Shopping Plaza and another
property located in Ibadan, allegedly acquired with proceeds of crime.
One of the counts that sent Akintade to prison reads: 
“That you, Tope Akintade between 2010 and May 2011 in
Ibadan within the jurisdiction of this Honourable Court did conspired with
Kolawole Babalola, Olaniran Muniru Adeola, Toogun Kayode Phillips and John Paul
to convert the sum of N490,000,000.00 million (Four Hundred and Ninety Million
Naira) only which sum was illegally derived from Central Bank of Nigeria, to
wit: by inducing the central Bank of Nigeria to deliver the said sum to EcoBank
Plc as against the actual sum of N79,789,900.00million (Seventy Nine Million,
Seven Hundred and Eighty Nine Thousand, Nine Hundred Naira) and you thereby
committed an offence contrary to Section 17 (a) of the Money Laundering
(Prohibition) Act, 2004 and punishable under Section 14 (1) (a) of the same
It would be recalled that, in the course of prosecution, one
of the defendants, Ademola Oni, a former staff of Wema Bank opted for plea bargain
and was consequently sentenced to twelve years imprisonment by Justice Joyce
Trial of other defendants in the matter continues February
13, 2017.

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