Three Sentenced For Illegally Selling New Naira Notes

ILORIN, KWARA STATE, NIGERIA – Justice Evelyn Anyadike of the Federal High Court in Ilorin, the capital of Kwara State, has handed down convictions and varying jail terms to three individuals involved in the illicit sale of new naira notes for profit.

The convicted individuals are Asmau Sallah Wuraola, Owoduni Abdullahi Isa (known as Bolaji), and Shuaibu Rukayat.

The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) brought separate one-count charges against each of them before the court.

Wuraola was charged with trading in naira notes issued by the Central Bank of Nigeria on February 17, 2024, at Arca Santa Event Center in Ilorin. This action contravened Section 21(4) of the Central Bank of Nigeria Act, 2007, and is punishable under Section 21(1) of the same Act.

The defendants pleaded guilty to their charges during the court proceedings.

Following the defendants’ pleas, the prosecuting counsel, Innocent Mbachie, presented the recovered new naira notes as evidence. The court admitted these exhibits and Mbachie requested the court to convict and sentence the defendants accordingly.

Justice Anyadike found the defendants guilty and handed down the following sentences:

• Wuraola: Two months’ imprisonment or a fine of N50,000. Additionally, the sum of N1,020,000 recovered from Wuraola was ordered to be forfeited to the Federal Government, and the POS machine seized at the time of arrest was to be destroyed by the EFCC.
• Abdullah Isa: Six months’ imprisonment or a fine of N50,000. The sum of N150,000 recovered from him was also forfeited to the Federal Government.
• Rukayat: Six months’ imprisonment or a fine of N50,000. The sum of N200,000 recovered from Rukayat was forfeited to the Federal Government as well.

These sentences serve as a deterrent against the illegal trade in new naira notes and uphold the integrity of Nigeria’s currency.