The Federal High Court sitting in the Ikoyi area of Lagos State has convicted and sentenced the duo of Folake Adeoti and Modupe Adewuyi to one year imprisonment each for hawking naira notes.
Adeoti and Adewuyi were arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on a separate one-count charge bordering on illegal hawking of naira notes.
The charge against Adeoti read: “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 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.”
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.
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The prosecution counsel further informed the court that Adeoti was an ex-convict, having been prosecuted beforeJustice Ibrahim Kala and convicted on the same matter of naira abuse.
The presiding judge, Justice Yellin Bogoro, on Friday, May 2, 2025, sentenced Adeoti to one year imprisonment without an option of fine.
The POS machine as well as the money recovered from her were also forfeited to the federal government.
Adewuyi also bagged one year imprisonment or to pay N500,000 fine.
Her POS machine and money recovered from her were also forfeited to the federal government.
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