Justice Evelyn Anyadike of a Federal High Court sitting in Ilorin yesterday convicted three persons in the state for engaging in commercial sale of the new naira notes.
The convicts, Asmau Wuraola, Owoduni Abdullahi Isa (also known as Bolaji) and Shuaibu Rukayat bagged various jail terms for engaging in illegal currency trading.
The Ilorin Zonal Command of the Economic and Financial Crimes Commission (EFCC) had arraigned each of them on one count separate charges before the Court.
The charge against Wuraola reads: “That you, Asmau Salah Wuraola, on the 17th day of February, 2024, at Arca Santa Event Center in Ilorin, Kwara State within the jurisdiction of the Federal High Court, did trade in naira notes issued by the Central Bank of Nigeria and thereby committed an Offence Contrary to Section 21 (4) of the Central Bank of Nigeria Act, 2007 and punishable under Section 21 (1) of the same Act.”
The three defendants pleaded guilty to their respective charges when they were read to them in the court.
Following their pleas, the prosecution counsel, Mr Innocent Mbachie reviewed the facts of the cases and tendered as evidence new naira notes recovered from the racketeers at the point of arrest.
The exhibits were all admitted in evidence.
He further prayed the court to convict and sentence them accordingly.
Delivering the judgment, Anyadike pronounced the defendants guilty and sentenced them to various jail terms.
The judge sentenced Wuraola to two months imprisonment with an option of fine of N50, 000.
The convict was also made to forfeit the sum of N1, 020,000 recovered from him to the federal government.
Besides, the judge ordered the EFCC to destroy the point-of-sale machine recovered at the point of arrest.
The judge also slapped a six-month imprisonment on Isa with an option of fine of N50, 000.
He, too, forfeited the sum of N150, 000 recovered from him at the time of arrest to the federal government.
The judge handed down six-month imprisonment on Shuaibu with an option of fine of N50, 000.
She also had to forfeit the sum of N200, 000 recovered from her to the federal government.
