N5.6bn pension fraud: EFCC wants suspects’ property confiscated

IBADAN — ECONOMIC and Financial Crimes Commission, EFCC,  has asked an Oyo State High Court to grant an interim order for the forfeiture of the property of the former Head of Service in Oyo State, Alhaja Adeleke yabo and 11 others standing trial for allegedly stealing N5.6billion pension fund.
The anti-graft commission prayed the court to grant the order pending the hearing and final determination of the fraud suit against them.
Others, who the EFCC was asking the court to confiscate their  property are: Muili Hakeem Aderemi, Iyabo Giwa, Adesina Jimoh Ayoade, Oguntayo Banji, Adebiyi Musendiq Olasunmbo, Adeduntan Johnson, Johnson Bosede and Kareem Rasheed.

The commission, in the charge sheet, alleged that the accused persons conspired and fraudulently obtained the money  from various accounts of Oyo State Local Government Staff Pension Board domiciled at different banks.

According to the commission, the proceeds allegedly realised from the crime was channelled by the respondents to the development and purchase of some buildings they own today, hence those property be seized pending the determination of the case.
Justice M. O. Olagunju of Court 11 later adjourned  the hearing of the suit to December 20, 2013
The court had, in the previous sitting, refused to grant the bail applications of the accused persons and they were therefore, remanded at Agodi Prison, Ibadan.