The police in Oyo State have arraigned 10 persons who allegedly defrauded the state Local Government Pension Board of the sum of N1. 59 billion before a Chief Magistrates Court 4, Iyaganku, Ibadan.

Arraigned before Chief Magistrate Yetunde Tijani Durosaro, the alleged pension fraudsters were charged on a nine-count charge of conspiracy to stealing, abuse of office and stealing of Local Government Staff Pension Fund to the tune of N1. 590 billion

The alleged fraudsters include Hakeem Muili, Alhaja Iyabo Giwa, Adeduntan Johnson, Oguntayo Banji, Adesina Jimoh, Johnson Bosede, Adebiyi Olasumbo, Kareem Rasheed, Muili Adedamola and Salewa Adedeji.

They were all arraigned under charge No. Mi/238C/2013 in Commissioner of Police Versus the 10 accused.

After hearing their pleas, all the alleged pension scammers were ordered by the trial magistrate to be remanded in the Agodi prison custody due to their inability to perfect the bail conditions.

All the accused persons pleaded not guilty to the three-count charge.

Defence counsel, Yinka Okunade and Ola Makinde, applied for the admission of the accused persons to bail which the trial magistrate in the sum of N2 million with two sureties in like sum.

According to the magistrate, each surety is to have a Certificate of Local Government Origin, or a Certificate of Occupancy (CoO) in respect of a landed property within the jurisdiction of the court, or an account with any of the reputable banks in the state, or Certificate of Business Registration.

The matter was thereafter adjourned to March 19 for trial.

In August last year, the state government had discovered a pension fraud in its Local Government Service Pensions Board totalling, at the initial stage, the sum of N2,608,398,709.29 but which later skyrocketed to N6.4 billion.