Three Kwara Naira Racketeers Jailed, Forfeit N1.3m

Date: 2024-03-11

The Federal High Court in Ilorin, Kwara State, on Tuesday, convicted and sentenced three persons to various jail terms for engaging in naira racketeering by selling the currency to make gains.

The convicts, Asmau Wuraola, Owoduni Abdullahi Isa, and Shuaibu Rukayat, were jailed by Justice Evelyn Anyadike.

They were arraigned by the Economic and Financial Crimes Commission.

The EFCC alleged that the convicts on February 17 “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.”

The prosecution said the defendants were liable to punishment under Section 21 (1) of the same Act.

The defendants pleaded guilty to the charges.

While reviewing the facts of the case, the EFCC prosecutor, Innocent Mbachie, said naira notes were recovered from the convicts.

Delivering judgment, Justice 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 while she ordered that the sum of N1,020,000 recovered from the her be forfeited to the Federal Government.

Furthermore, the judge ordered the EFCC to destroy the POS machine recovered from her.

Isa, on the other hand, was sentenced to six months imprisonment with an option of fine of N50,000 while the sum of N150,000 recovered from him be forfeited to the Federal Government.

The judge also sentenced Rukayat to six months imprisonment with an option of a fine of N50,000 while the sum of N200,000 recovered from him be forfeited to the Federal Government.

The Federal Government has in recent times begun a clampdown on illegal currency dealers in a bid to arrest the free fall of the naira.

Last week, a Kano court jailed two illegal Bureau de Change operators while 16 others were remanded in prison in Port Harcourt.

On Monday, the police in Lagos took 19 BDC operators before the Federal High Court in Lagos for arraignment. The charges were, however, withdrawn by the police at the last minute.

Source

 


Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Mustapha Olanipekun     KWASAA     Pakata Development Association     IFK     Olufolake Abdulrazaq     Dairo Kunle Paul     Buhari     Katibi Ibraheem Adeola     Abdullateef Abdussalam     Saheed Akinwumi     IHS Towers     Hassan Abdulazeez Elewu     Kamaldeen Kehinde     Ilorin Airport     Folorunsho Alao     Abdulrasheed Lafia     Onikijipa     Saadatu Modibbo-Kawu     Salman Alada     Radio SBS     GGDSS Pakata     Sola Saraki University     Omoniyi M. Ayinla     Akande Idowu Ayoola Muhammed     Elerinjare-Ibobo     Joseph Offorjama     Femi Oladiji     Ibrahim Abdullahi     Rapheal Ashaolu     Olajumoke Monsura Gafar     Amoyo     Harrison Osauwagboe     Abubakar Bature Sulu-Gambari     Centre For Community Empowerment And Poverty Eradication     Olosi Of Osi     Alumni Association Of The Federal Polytechnic Offa     Ahmed Saidu Rufai     Orisa Bridge     Haashim Initiative For Community Advancement     Ajia-Bako     Abdulkarim Adisa     Hassan A. Saliu     HICA     Kwara Polytechnic     Oja-Oba     Opaleke Bukola Iyabo     Shuaib Jawondo     AbdulRahman Saad     Mustapha AbdulGaniyu     Kwara State Television     Okedare     Ilorin Innovation Hub     Emir Of Ilorin     Abdul Jimoh Mohammed     Kolawole Akande     Revenue Court     Olatunji Ibrahim     Babata     Shoprite     Salihu Alhaji Musa     Abdulwahab Olarewaju Issa     Babatunde Ishola Babaita     Oladipo Akanmu Tolani     Ahman Pategi University     Aishat Mohammed Lawal     Tsaragi/Share     Olanrewju Okanlawon Musa     Gafaru Olayiwola Olorisade     Modupe Oluwole     Hussein Oloyede     Aro Yahaya     Ibrahim Oniye     Shuaib Boni Aliyu     Toyosi Thomas     Abdulkadri Ahmad Alaiye     Yakubu Gobir     GANZY    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Doyin Awoyale     Yusuf Amuda Abubakar     Kazeem Adekanye     Millennium Development Goals     Ibrahim Agboola Gambari     Ilorin Emirate     Curfew     Agbarere     Sunset Workers     Sebastine Obasi     Musa Abdullahi     Dele Momodu     Sidikat Uthman Ajibola     AbdulGafar Tosho     Lanre Olosunde     MATTA Girls Foundation     NIRSAL     Kemi Adeosun     SSUCOEN     Special Agro-industrial Processing Zone     Oyawoye     Kwarareports     Erin-ile     Sodiya     Wahab Egbewole     Surajudeen Akanbi     Abubakar Usman Jos     Vasolar Consortium     Clara Nwachukwu     Folajimi Aleshinloye     Obuh     Osuwa     Ambassador Kayode Laro     Durbar     Charles Ibitoye     Ajeigbe     Bursary     Damilola Yusuf Adelodun     Yahaya Muhammad     Sanusi Abubakar     Saka Saadu     KWTV     Hauwa Nuru     Oniye     Share-Tsaragi     Olusola Saraki     Olaitan Buraimoh     Alimi Abdulrazaq     Ilorin Airport     Neuropsychiatric Hospital     Abdulrazaq Solihudeen     Sobi     Bola Olukoju     Aisha Buhari     Abdulkadir Bolakale Sakariyah     Oloye     Musa Aibinu     Sheu Ndanusa Usman     Saba Jibril     Mahee Abdulkadir     Henry Makinwa     Waziri Yakubu Gobir     Dele Belgore     Olanrewju Okanlawon Musa     James Ayeni     Kwara 2023     Saliu Mustapha     Muhammed Akanbi     Kwara State Coalition Of Business And Professional Associations     Playing Host     Atiku     Sarafadeen Kayode Akorede     Fatimat Saliu     Saadu Gbogbo Iwe     Abubakar Abdullahi Bata     Gbenga Adebayo     Raymond Olaitan