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A woman has been arraigned before a Lagos court for abusing the naira.
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The suspect was said to have hawked millions of naira in Lagos state, leading to her arrest.
The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate has arraigned a woman before the court of law.
According to reports, woman, identified as Folake Adeoti,an ex-convict was arraigned on Friday, April 4, 2025 before a Federal High Court sitting in Ikoyi, Lagos.
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She is facing a one count charge of Naira mutilation.
During the court hearing, the prosecuting counsel, Z.B Atiku noted that the woman was arrested on March 21, 2025 around Jobi Fele Way, Ikeja, Lagos, while hawking Naira notes to the tune of N3,850,000.00.
The charge reads:
“That you, Folake Adeoti, on the 21st day of March, 2025, opposite Regency Hall, Jobi Felé,Way, Ikeja, in Lagos within the jurisdiction of this Honourable Court, hawked the sum of N3,850,000.00 (Three Million, Eight Hundred and Fifty Thousand Naira) 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 Act, 2007.”
She pleaded guilty to the charge when it was read to her.
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Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos.
Delivering judgement, the presiding judge, Justice Yellim Bogoro adjourned the case till May 2, 2025 and ordered the suspect be remanded.
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