Court jails woman for Currency Racketeering in Lagos

The Economic and Financial Crimes Commission, EFCC, on Monday, announced the sentencing of one Adeyinka Bilikis Gbadamosi to six months imprisonment for currency racketeering.

Gbadamosi was arraigned before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, 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 Honorable Court, engaged in hawking the total sum of N897,900.00 (Eight Hundred and Ninety-Seven Thousand, Nine Hundred Naira) in N200 Naira 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 preferred against her.

According to an operative of the EFCC, Abdul Malik, who reviewed the facts of the case in court, Gbadamosi was arrested on April 27, 2024, while hawking Naira notes at 10 Degree Event Centre, Billings Way, Ikeja, Lagos.

Malik stated that the sum of N897,900 was recovered from her at the point of arrest.

He added that the defendant, in a statement, admitted to being into currency racketeering and hawking of Naira notes

Justice Aneke sentenced the convict to six months imprisonment, with an option of a Fifty Thousand Naira fine.

The Judge also ordered that the N897,900.00 recovered from her be forfeited to the Federal Government of Nigeria.