Justice Yellin Bogoro of the Federal High
Court, sitting in Ikoyi, Lagos, on Friday, May 2, 2025, convicted and
sentenced the duo of Folake Adeoti and Modupe Adewuyi to one year
imprisonment, each for hawking Naira notes.
They arraigned by the Lagos Zonal Directorate 1
of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi,
Lagos on a separate one-count charge, bordering on illegal
hawking of Naira notes.
The charge against Adeoti reads: “That you,
Folake Adeoti, on the 21st day of March, 2025, opposite Regency Hall, Jobi
Felé,Way, Ikeja, in Lagos within the jurisdiction of this Honourable Court,
hawked the sum of N3,850,000.00 (Three Million, Eight Hundred and Fifty
Thousand Naira) issued by the Central Bank of Nigeria and thereby committed an
offence contrary to and punishable under Section 21(4)) of the Central Bank of
Nigeria Act, 2007.”
That of Adewuyi reads: “That you, Modupe Adewuyi,
on the 21st day of March, 2025, at Jobi Fele Street, opposite Regency Event
Center, Alausa Ikeja, in Lagos, within the jurisdiction of this Honourable
Court, engaged in hawking the total sum of N1,600,000 (One Million, Six
Hundred Thousand Naira) of N500 and N1000 denominations, issued by
the Central Bank of Nigeria and thereby committed an offence contrary to
section 21(4) and punishable under Section 21(1) of the Central Bank of Nigeria
(Establishment) Act, 2007.”
They pleaded “guilty” to their charges,
following which prosecution counsel, Z.B. Atiku
tendered their confessional statement as well as the money recovered
from them in evidence and urged the court to convict and sentence them
accordingly. The prosecution counsel further informed the court
that Adeoti was an ex-convict, having been
prosecuted before Justice Ibrahim Kala and
convicted on the same matter of Naira abuse.
Justice Bogoro sentenced Adeoti to one year
imprisonment without an option of fine. In addition, her POS
machine as well as the money recovered from her were forfeited to the
federal government. Adewuyi also bagged one year imprisonment or to
pay N500,000 (Five Hundred Thousand Naira) fine. In addition,
her POS machine and money recovered
from her were also forfeited to the federal government.
Adeoti and Adewuyi were intercepted on March
21, 2025 along Jobi Fele Way, Ikeja, Lagos, while hawking Naira notes
to the tune of N3,850,000.00 and N1,600,000, respectively.
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