12 Pension Thieves Rearraigned For Stealing N5.6 Billion

A former Oyo State head of service, Kudirat Iyabo Adeleke, and eleven other suspects, were re-arraigned Friday by the Economic and Financial Crimes Commission, EFCC, before Justice Adegboye Gbolagunte of Oyo State High Court, Ibadan on charges bordering on conspiracy, criminal breach of trust and stealing up to N5.6 billion pension funds.

The other persons who were re- arraigned alongside Adeleke are a former executive secretary of the state pension board, Muili Hakeem Aderemi, a former internal auditor of the board, Oguntayo Banjo, former cashier of the board, Adesina Jimoh Ayoade, former administration officer of the board, Adebiyi Olasumbo Musendia and former cashier of the board, Iyabo Giwa.

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Others are Muili Adedamola; and Olujinmi Adebayo, Adewale Kehinde, Adeduntan Johnson, Kareem Rasheed and Johnson Bosede.

The accused persons are alleged to have stolen the sum of N5.6 billion meant for the payment of pension and gratuities to various categories of retired teachers in Oyo State.

Count one of the charge accused the suspects of conspiring in Ibadan on September 29, 2010 to obtain the money by false pretense from the state local government staff pension board account with Finbank Plc (now FCMB Plc Account number 300564854).

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Count two alleged that the suspects obtained the sum of N8.9 million from the same account with Finbank Plc, on false representation made to the bank that the money was the gratuity of a pensioner named Kareem R. W.

The accused persons were first arraigned on November 7, 2013 before Justice Bolaji Yusuf, but the elevation of the trial judge to the Court of Appeal meant the trial of the accused persons had to commence afresh.
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All the accused pleaded not guilty to the charges.

Prosecuting counsel, Gbolahan Latona, informed the court that he was ready for trial and sought a date for further hearing. He prayed the court to remand all the accused persons in prison custody.

Justice Gbolagunte adjourned the case to May 30, 2014 for hearing of bail applications of all the accused persons and ordered that they be remanded in Agodi prison, Ibadan.

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