Six Central Bank of Nigeria officials and 16 others from some commercial banks faced trial yesterday at the Federal High Court Ibadan for alleged N8-billion fraud.

Some of the commercial bank officials accused are Tope Akintade, John Paul and Togun Kayode.

They all pleaded not guilty to the charge of recycling mutilated #1000 notes which amounted to N8 billion.

Reading the offences to the accused persons, the court registrar said the amount realised was N490 billion, coupled with the money realised from the officials of the commercial banks that liaised with them.

Defending counsel Rotimi Jacob pleaded with the court to grant the accused persons bail on the basis of guarantors.

Justice Ayo Emmanuel declined the request, saying the accused persons are to be remanded in Agodi Prison in Ibadan till the defence counsel presents the bail request, documented and formalised, since it was done orally during the court hearing.

The court then adjourned the case till June 3 and 8.