A Federal High Court in Ilorin, Kwara State capital, has convicted three women for dealing in currency racketeering.
The women were dragged to court by the Ilọrin Zonal office of the Economic and Financial Crimes Commission on a one-count charge of selling new Naira notes to the public for commercial purposes.
The offence contravenes Section 21 (4) of the Central Bank of Nigeria Act, 2007 and punishable under Section 21 (1).
But the convicts, Asmau Sallah Wuraola, Owoduni Abdullahi Isa (Bolaji) and Shuaibu Rukayat, pleaded guilty to their respective charge.
According to one of the charges, Wuraola, “on February 17, 2024, at Arca Santa Event Centre, Ilorin, did trade in naira notes issued by the CBN.”
Prosecution counsel, Innocent Mbachie, tendered new Naira notes recovered from the women at the point of arrest as evidence and were admitted by the court.
Delivering the judgment, Justice Evelyn Anyadike pronounced the defendants guilty and sentenced them to various jail terms with an option of a N50,000 fine each.
The court also ordered the forfeiture of N1,370,000 recovered from them and the destruction of their PoS machines.