Two Arrested for Selling Naira Notes in Lagos

The Economic and Financial Crimes Commission (EFCC) has presented two individuals in court for illegally selling naira notes in Lagos.

The first individual, Folake Adeoti, was arrested on March 21, 2025, near Jobi Fele Way in Ikeja while selling N3.8 million in naira notes.

She was charged with violating the Central Bank of Nigeria Act by hawking the notes and pleaded guilty.

Following this, prosecution counsel introduced her confession and the money seized, requesting her conviction.

The court adjourned the case until May 2, 2025, while ordering her detention in a correctional facility.

On the same day, Modupe Adewuyi was also charged for hawking N1.6 million in naira notes.

She was arrested in the same area of Ikeja with two point-of-sale (POS) machines.

Like Adeoti, she admitted to the offense, and the court was informed of her involvement in the sale of mint naira notes.

The EFCC presented evidence, including her confession and the recovered money, urging the court to convict her and forfeit the money to the government.

This case, too, was adjourned until May 2, 2025. Both suspects remain in custody.

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