Court Jails Two Six Months for Naira Abuse in Lagos
The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Thursday, May 8, 2025, secured the conviction and sentence of the duo of Babatunde Peter Olaitan and Tobilola Olamide to six months imprisonment each for mutilation of the Naira notes.
They were jailed by Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos.
The convicts were arraigned on a separate one-count charge of tampering with the Naira notes and spraying, to which they each pleaded “guilty”.
The charge against Olaitan reads: “That you, BABATUNDE PETER OLAITAN, on 8th April 2025, at 23, Macdonald Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with funds in the denomination of N200 (Two Hundred Naira) issued by the Central Bank of Nigeria by spraying it, and you thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007.”
The charge against Olamide reads:”That you, TOBILOLA OLAMIDE A.K.A TobiNation, on 8th April 2025, at 23 Macdonald Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, whilst dancing during a social event, tampered with funds in the denomination of N200 (Two Hundred Naira) issued by the Central Bank of Nigeria by spraying it, and you thereby committed an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007.”
In view of their pleas, prosecution counsel, C.C. Okezie and H.U.KofarNaisa, respectively, reviewed the facts of the cases through Ibrahim Bukar, an investigative officer with the EFCC.
In his evidence, Bukar specifically told the court that the Commission, on April 10, 2025, generated an intelligence-driven investigation on TikTok, where Olaitan, also known as TDollar, was seen spraying Naira notes.
He also told the court that “Upon the approval of the intelligence by the Zonal Director, a letter of investigation was sent to the defendant, requesting him to make a statement regarding the video.
“The defendant reported to the Special Operations Team, SOT, on May 5, 2025 and his statement was recorded under caution.
“He stated that he went to a night club on April 8, 2025 and met some of his fans sharing money.
“ He also said that a fan, in the process, gifted him a bundle of N200 notes, which he sprayed on some of his other fans.
“He was shown a video of him spraying the money and he made a statement regarding it.”
Consequently, the defendants’ extrajudicial statements and video recordings were rendered and admitted in evidence by the court.
Okozie and KofarNaisa, therefore, respectively prayed the court to convict and sentence the defendants accordingly.
Justice Owoeye convicted and sentenced both Olaitan and Olamide to six months imprisonment each, with an option of fine in the sum of N200,000 (Two Hundred Thousand Naira.
The convicts' road to the Correctional Centre started when they were arrested by operatives of the EFCC for Naira abuse. They were charged to court and convicted.
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