The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, has arraigned two individuals, including an ex-convict, for alleged naira abuse before Justice Yellim Bogoro of the Federal High Court, Ikoyi, Lagos.
One of the defendants, Folake Adeoti, was charged with hawking N3.85 million in naira notes on March 21, 2025, in Ikeja. She pleaded guilty, and the prosecution presented her confessional statement and recovered cash as evidence. The court adjourned the case to May 2, 2025, for ruling and ordered her remand. The EFCC also revealed that Adeoti had previously been convicted on similar charges.
In a related case, Modupe Adewuyi was arraigned for illegally selling N1.6 million in naira notes. She also pleaded guilty, admitting to using POS machines for the illegal trade. The prosecution urged the court to convict her and forfeit the recovered money to the government. Justice Bogoro adjourned her case to May 2, 2025, and ordered her remand.
Both cases highlight the EFCC’s ongoing crackdown on naira abuse and currency trafficking.
