Woman Lands in Jail 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.

The count reads: “That you, Adeyinka Bilikis Gbadamosi, on the 27th of April, 2024 in  Lagos, within the jurisdiction of this Honorable Court, engaged in hawking the total sum of N897,900 (Eight Hundred and Ninety Seven Thousand, Nine Hundred Naira) in N200 Naira note denomination, with serial numbers 688101 and N500 Naira note denomination, with serial numbers 315501 issued by the Central Bank of Nigeria and thereby committed an offence contrary to and punishable under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.”

She pleaded “guilty” to the charge when it was read to her

Following her guilty plea, prosecution counsel, C.C. Okezie called on Olagunju Abdul Malik, an operative of the EFCC, to review the facts of the case.

Abdulmalik told the court that the defendant was arrested on April 27, 2024, while hawking Naira notes at 10 Degree Event Centre, Billings Way, Ikeja, Lagos, following credible intelligence received by the Commission.

According to him, the sum of N897,900 was recovered from her at the point of arrest.

“Upon her arrest by operatives, she was duly cautioned and she volunteered her statements.

“In her statement, she confessed she was into currency racketeering and hawking of Naira notes,” he said.

Okezie, thereafter, sought to tender, in evidence, the defendant’s extrajudicial statements and the money recovered from her.

Justice Aneke admitted and marked them as exhibits and convicted the defendant.

Counsel to the convict A.A. Olawipo, prayed to the court for a non-custodial sentence or the option of a fine.

Justice Aneke sentenced the convict to six months imprisonment, with an option of a fine of N50,000 (Fifty Thousand Naira) only.

The Judge also ordered that the N897,900 recovered from her be forfeited to the Federal Government of Nigeria.