court strikes out bail application in the N8 billion CBN currency scam trial

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Justice Nathaniel Ayo-Emmanuel of the Federal High Court in Ibadan, on Friday, struck out the bail application filed by Adeola Olaniran, the second accused in the N8 billion CBN currency scam trial.


Ruling on the application, Ayo-Emmanuel held that the bail application had not met any of the cogent conditions that must be considered before he could grant bail to Olaniran.

“There must be a positive, cogent and convincing medical report issued by an expert in that field of Medicine, among other things that must be considered, before granting the bail application.

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“Without a valid and credible medical report, I cannot rely on the position contained in the affidavit supplied by the defence counsel to exercise my discretion in favour of this application, and it is hereby struck out,” the Judge stated.

Ayo-Emmanuel, thereafter, adjourned the case to Dec. 15, for continuation of trial.

Earlier, Mr Olalekan Ojo, counsel to Olaniran, had filed a bail application praying the court to consider the ill-health of his client in granting him bail.

However, Mr Adebisi Adeniyi, the prosecution counsel, opposed the bail application, contending that other accused persons in the similar condition had been denied bail.

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Meanwhile, hearing on the plea bargain arrangement entered into by Tope Akintade, the fourth accused person was equally adjourned to Nov. 30.

The News Agency of Nigeria (NAN) recalls that Ademola Oni, also on trial for the offence, had been convicted after he went into a plea bargain arrangement with EFCC.

Similarly, Oluwanike Afolabi, had initiated a plea bargain process with the Economic and Financial Crimes Commission.

NAN reports that Kolawole Babalola, Philip Togun, Olaniran and Akintade along with others have since 2015 been standing trial on multiple charges bordering on conspiracy, forgery, stealing and recirculation of mutilated N8 billion currency notes, property of the CBN.

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