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 The charges were, however, withdrawn by the police at the last minute.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.

NYSC     Funke Adedoyin     Okeose Christian Cementary     Women For Change And Development Initiative     Aisha Ahman Pategi     Falokun-Oja     Clara Nwachukwu     Kemi Adeosun     Saliu Shola Taofeek     Kwara-SAPZ Project     Sunday Popo-Ola     Abiodun Abdulkareem     C2c@kwarastate.gov.ng     CUTI     Taofeeq Olateju     Col. Taiwo     Yakubu Gobir     Tosin Saraki     International Vocational Centre     Radio SBS     Millennium Development Goals     Ishola Moses Abiodun     Bureau Of Lands     Ilorin East     Ayinde Oyepitan     Arinola Lawal     Hakeem Idris     NFAI     Danladi     Bashiru Makama     Bisi Oyeleke     Amada Jidda     Kazeem Gbolagade     GRA     Federal Road Maintenance Agency     Owo Isowo     Abdulrasheed Na\'Allah     Umar Bayo Abdulwahab     Dagbalodo     Bello Taoheed Abubakar     Shagari     Ibrahim Mashood     Adamu Atta     Idris Garuba     SDP     Joshua Adeyemi Adimula     Valsolar Consultoria     Abikan     Aliyu Adebayo     Benin Republic     AbdulRazaq Jiddah     NaAllah     Offa Grammer School     Abdulmumini Jawondo     Damilola Yusuf     Valsolar-Kwara Company Limited     Abdulrahman Onikijipa     Ibrahim Abiodun     Iyiola Oyedepo     Halimat Yusuf     Reuben Paraje     Ishak Mohammed Sabi     Fatima Abolore Jimoh     TESCOM     Michael Ologundea     Mohammed Ghali Alaaya     Kayode Ibrahim     Toun Okewale-Sonaiya     Tsaragi/Share     Christopher Tunji Ayeni     Mohammed Lawal Bagega     Haashim Initiative For Community Advancement     Adebara     Sam Okaula     Ahmed Bayero     David Adesina     Nagode    

Cloud Tag: What's trending

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

Kwarareports     Ilesha Gwanara Road     Kawu Baraje     Lithium     Abdul-Rasheed Na\'Allah     Moses Adekanye     Abdulmumini Sanni Jawondo     Abdullahi Dasilva Yussuf     Saadu Yusuf     Stephen Fasakin     Babs Iwarere     Ronke Adeyemi     Maryam A. Garuba     Abubakar Aliagan     Abubakar Bature Sulu-Gambari     Yusuf Abubakar     Yusuf Abdulraheem     Neuropsychiatric Hospital     Gobir Organization Foundation     Ilorin Curfew     Abdulmumini Jawondo     Alapansapa     IYA ALFA NLA     Offa Metropolitan Club     JUSUN     Oba Abu     Khairat Gwadabe     Nigeria Governors\' Forum     Kwara     Lukman Oyebanji Fagbemi     College Of Arabic And Islamic Legal Studies     Alaaya     Okin Malt     Kayode Ogunlowo     AGILE Programme     Moses Afolayan     Ishola Moses Abiodun     Basic Education Certificate Examination     Balogun Gambari     Tunji Folami     Bello Taoheed Abubakar     Turaki Of Ilorin     Abdulrazak Shehu Akorede     Ahmad Lawan     Convocation Ceremonies     Kemi Adeosun     GAMA     Shuaibu Yaman Abdullahi     2017 Budget     Ilorin West/Asa Federal Constituency     Mamatu Abdullahi     Aisha Buhari     Dumagi     Adam Abdullahi Al-Ilory     Kwara State Geographic Information Service     Iyabo Adisa Ibiyeye     Tunde Mukaila Mustapha     Park     Taofik Mustapha     John Dara     Olayinka Jelili Yusuf     Hijab     Suleiman Ajadi     Gambari     Babajide Ajayi     Olatunde Jare     Shururat Olatinwo     Olam Food Ingredients     Ilorin     Isiaka Abdulrazak     Simeon Sayomi     Tanke     Kwara Restoration Project     Noah Yusuf     Suleiman Rotimi Iliasu     Abdulkadir Akanbi-Oke     Arinola Fatimoh Lawal