Former banker bags 12 years jail term

A former Banker, Ademola Oni, has been convicted and sentenced to 12 years imprisonment for conspiracy and money laundering. Delivering the judgment, Justice Abudmalik of the Federal High Court, Ibadan, Oyo State, on Thursday, ruled that he forfeits all his properties and cash in various banks as proceeds of the crime.

Ademola was arraigned by the EFCC alongside six former officials of the CBN and 15 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 eight billion naira from the Central Bank of Nigeria.

Oni, who was the 4th defendant in the matter, opted for a plea bargain agreement with the prosecuting counsel and pleaded guilty to 5 of the 24 amended count charges brought against him. Justice Abudmalik convicted him and sentenced him to two and half years on each of the five counts accordingly. The sentences are to run concurrently