Justice Yellin Bogoro of the Federal High Court was convicted on Friday, May 2, 2025, sitting in Ikoyi, Lagos, and sentenced to one year in prison for Folake Adeoti and Modupe Adewuyi, each of whom was sentenced to one year for Hawking Naira Notes.
They were arraigned by the Director of the Economic and Financial Crime Commission No. 1, Lagos Zonal, on a separate single charge, bordering the illegal Hawking of Naira Notes in Naira Notes.
The allegations against Adeoti read: “You, Folake Adeoti, across the Regent Hall in Ikeja, on March 21, 2025, within the jurisdiction of this honorable court, Lagos is punished under Article 21 (4) of the Nigerian Central Bank Act 2007.”
Adewuyi Read
“You, Modupe Adewuyi, on 21 March 2025, on Jobi Fele Street opposite the Regent Activities Centre in Alausa Ikeja, Lagos, under the jurisdiction of this glorious court, engaged in the total of N1,600,000 n1,600,000 n500 and n500 and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigra and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia and Nigia
They “plead guilty” to their allegations and then sued lawyer ZB Atiku for their remorse and recovered money from them in the evidence, urging the court to convict them and sentence them to the corresponding sentence. Prosecutors further informed the court that Adeoti was a former criminal who had been prosecuted before Justice Ibrahim Kala and convicted of Naira’s abuse.
Justice Bogoro sentenced Adeoti to one year in prison without a fine. In addition, her POS machine and the money recovered from her were confiscated to the federal government. Adewuyi was also sentenced to one year in prison or paid a fine of N500,000 (500,000 Naira). In addition, the POS machines and funds she recovered from her were also confiscated to the federal government.
Adeoti and Adewuyi intercepted along Jobi Fele Way in Ikeja on March 21, 2025, while Hawking Naira recorded tunes of N3,850,000.00 and N1,600,000, respectively.
