Woman bags 6 months jail for currency racketeering in Lagos

A Federal High Court sitting in Lagos, has convicted and sentenced one Adeyinka Gbadamosi to six months imprisonment for currency racketeering.
Trial judge in the matter is Justice Chukwujekwu Aneke.
Gbadamosi was arraigned by the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on currency racketeering.
The count reads: “That you, Adeyinka Bilikis Gbadamosi, on the 27th of April, 2024 in Lagos, within the jurisdiction of this court, engaged in hawking the total sum of N897,900 in N200  note denomination, with serial numbers 688101 and N500 Naira note denomination, with serial numbers 315501 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 (Establishment) Act, 2007.”
She pleaded “guilty” to the charge when it was read to her.  Following her plea, prosecution counsel, C. Okezie called on Olagunju Malik, an operative of the EFCC, to review the facts of the case.
Abdulmalik told the court that the defendant was arrested on April 27, 2024 while hawking Naira notes at 10 Degree Event Centre, Billings Way, Ikeja, Lagos, following credible intelligence received by the Commission.
According to him, the sum of N897,900 was recovered from her at the point of arrest.
“Upon her arrest by operatives, she was duly cautioned and she volunteered her statements.  In her statement, she confessed she was into currency racketeering and hawking of Naira notes,” he said.
Okezie,  sought to tender, in evidence, the defendant’s extrajudicial statements and the money recovered from her.  Justice Aneke admitted and marked them as exhibits and convicted the defendant.
Counsel to the convict A. Olawipo, prayed the court for a non-custodial sentence or option of fine.  Justice Aneke sentenced the convict to six months imprisonment, with an option of fine of N50,000.
The judge also ordered that the N897,900 recovered from her be forfeited to the Federal Government.

Leave a Reply

Your email address will not be published. Required fields are marked *