Woman Jailed For Selling Naira Notes, EFCC Operation Leads To Conviction

Bose Lateef, a Lagos woman, found herself in trouble when EFCC operatives apprehended her while selling Naira notes at Eko Club in Surulere. Charged with money racketeering, she pleaded guilty before Justice Deinde Dipeolu of the Federal High Court in Ikoyi, Lagos. The EFCC accused her under Section 21(4) of the CBN Act for hawking N269,000 in N500 denominations.

Operative Olagunjo Abdulmalik provided details of Lateef’s arrest on February 15, 2024, at Eko Club, where N507,500 was recovered from her possession. During her statement to the EFCC, Lateef admitted to engaging in money racketeering and selling Naira notes, leading to her prosecution.

Lateef’s guilty plea prompted Justice Dipeolu to admit her statements and the recovered cash as evidence against her. Despite a plea for leniency from her defense counsel, Kolapo Gbadamosi, who argued that the money found was a loan from a cooperative society, Lateef was sentenced to one month imprisonment.

The court’s verdict included an order for the return of the confiscated N507,500 cash to Lateef. While Gbadamosi emphasized Lateef’s status as a first-time offender and expressed remorse on her behalf, Justice Dipeolu maintained that the law must be upheld.

Lateef’s case highlights the seriousness with which authorities tackle offenses related to currency manipulation and financial misconduct. The EFCC’s swift action and the court’s decisive judgment underscore the importance of upholding legal standards and deterring illegal activities within society.

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