Court jails woman six months for currency racketeering in Lagos

By Adeyanju Esther

Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced Adeyinka Bilikis Gbadamosi to six months imprisonment for currency racketeering. Gbadamosi was arraigned by the Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) on a one-count charge bordering on currency racketeering.

According to the charge, Gbadamosi was found on April 27, 2024, in Lagos, engaging in the illegal activity of hawking a total sum of N897,900 in various denominations of Naira notes. Specifically, she was caught with N200 notes bearing serial numbers 688101 and N500 notes with serial numbers 315501, both issued by the Central Bank of Nigeria (CBN).

This act is contrary to Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.

Gbadamosi pleaded guilty to the charge. Following her plea, prosecution counsel C.C. Okezie presented the case, calling on EFCC operative Olagunju Abdul Malik to review the facts.

Abdul Malik detailed the arrest, which occurred on April 27, 2024, at 10 Degree Event Centre, Billings Way, Ikeja, Lagos, following credible intelligence received by the EFCC.

He stated that N897,900 was recovered from Gbadamosi at the point of her arrest and she confessed to her involvement in currency racketeering.

During the trial, the prosecution presented the defendant’s extrajudicial statements and the recovered money as evidence, which were admitted and marked as exhibits by Justice Aneke.

Despite a plea for a non-custodial sentence or a fine option by Gbadamosi’s counsel, A.A. Olawipo, Justice Aneke sentenced her to six months imprisonment, with an option of a N50,000 fine.

Additionally, the court ordered that the N897,900 recovered from Gbadamosi be forfeited to the Federal Government of Nigeria.