Court sentences woman to six months for currency racketeering.

Adeyinka Bilikis Gbadamosi was convicted and sentenced by Justice Chukwujekwu Aneke of the Federal High Court in Ikoyi, Lagos, on May 29, 2024, for currency racketeering. She was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) on a one-count charge related to hawking Naira notes.

Gbadamosi pleaded guilty to the charge, which accused her of hawking N897,900 (N200 and N500 Naira note denominations) issued by the Central Bank of Nigeria. The charge was in violation of Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.

During the trial, EFCC operative Olagunju Abdul Malik

During the trial, EFCC operative Olagunju Abdul Malik testified that Gbadamosi was apprehended while hawking the Naira notes at an event center in Ikeja, Lagos, based on credible intelligence. The sum of N897,900 was seized from her at the time of arrest, and she confessed to engaging in currency racketeering.

After considering the evidence, Justice Aneke admitted Gbadamosi’s extrajudicial statements and the recovered money as exhibits, leading to her conviction. Her counsel, A.A. Olawipo, requested a non-custodial sentence or an option of fine.

However, Justice Aneke sentenced Gbadamosi to six months imprisonment, with an option of fine set at N50,000. Additionally, he ordered the forfeiture of the seized Naira notes to the Federal Government of Nigeria.

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