Court Sentences Two to Six Months in Prison for Naira Misuse in Lagos

On Thursday, May 8, 2025, the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) successfully secured a conviction against Babatunde Peter Olaitan and Tobilola Olamide, sentencing each to six months in prison for the mutilation of Naira notes.

The ruling was made by Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos. Both defendants faced separate one-count charges related to the tampering and spraying of Naira notes, to which they pled "guilty." The charge against Olaitan stated: "That you, BABATUNDE PETER OLAITAN, on April 8, 2025, at 23 Macdonald Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, while dancing at a social event, tampered with funds in the denomination of N200 (Two Hundred Naira) issued by the Central Bank of Nigeria by spraying it, thereby committing an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007."

Similarly, the charge against Olamide stated: "That you, TOBILOLA OLAMIDE A.K.A TobiNation, on April 8, 2025, at 23 Macdonald Road, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, while dancing at a social event, tampered with funds in the denomination of N200 (Two Hundred Naira) issued by the Central Bank of Nigeria by spraying it, thereby committing an offence contrary to and punishable under Section 21(1) of the Central Bank Act, 2007." Following their guilty pleas, prosecution counsel C.C. Okezie and H.U. KofarNaisa presented evidence through Ibrahim Bukar, an EFCC investigative officer, who detailed the case.

He testified that the Commission initiated an intelligence-driven investigation on April 10, 2025, after observing Olaitan, also known as TDollar, on TikTok spraying Naira notes during a social event. Bukar explained that, upon approval of the intelligence report by the Zonal Director, a letter was sent to the defendant requesting a statement about the video. Olaitan subsequently appeared before the Special Operations Team on May 5, 2025, where he provided a recorded statement under caution. He recounted attending a nightclub on April 8, 2025, where fans were sharing money and mentioned receiving a bundle of N200 notes from a fan, which he then sprayed on others. He later viewed video evidence of his actions and made a statement regarding it. The court accepted the defendants' extrajudicial statements and video evidence. Consequently, Okezie and KofarNaisa urged the court to convict and appropriately sentence the defendants. Justice Owoeye ultimately sentenced both Olaitan and Olamide to six months in prison, each with the option to pay a fine of N200,000 (Two Hundred Thousand Naira). The path to the Correctional Centre for the convicts began when EFCC operatives arrested them for Naira tampering. They were subsequently charged and found guilty in court.