Nigerian central bankers in custody on fraud charges

Three senior officials from Nigeria's Central Bank and two others from a commercial bank have been remanded in custody after appearing in court , charged with currency fraud.

The five were charged with defrauding the apex bank and two other banks. The defendants pleaded not guilty to an 11-count indictment which included conspiracy, fraud and theft at the court in Ibadan, southwest Nigeria. 

Judge Ayo Emmanuel adjourned the case until June 9 for a bail application.

The five are among 22 bankers who were arrested across the country after failing to carry out instructions to destroy old bank notes totalling billions of naira.

NEWS24