By Olawale Akinremi
A witness in the case of alleged N8 billion CBN currency scam on Tuesday said that there was a syndicate at the Ibadan branch of the apex bank behind the fraud.
Mr Edwin Ennah, a retired Head of Currency Processing and Disposal Unit, said that he discovered that some people were replacing cut newspapers and lower denominations with N1,000 that were supposed to be destroyed.
Testifying before Justice Nathaniel Ayo-Emmanuel, Ennah said that since he reported his discovery in 2013 no investigation had been conducted by the branch.
Ennah added that his investigation revealed that there were 11 boxes which were supposed to be containing N10 million each of N1,000 denomination, totalling N110 million.
He said that it was the intervention of the headquarters of the apex bank that compelled the Ibadan branch to comply and begin the inspection of the boxes.
Meanwhile, the fifth accused person, Emmanuel Ordia, on resumption of trial filed a bail application on grounds of ill health.