A Federal High Court in Lagos has convicted a man, known as Fabian John Itafor, for hawking the Nigerian currency, Naira.
Justice Kehinde Olayiwola Ogundare handed Itafor a three-month community service after he pleaded guilty to a count-charge the Economic and Financial Crimes Commission (EFCC), leveled against him.
According to the prosecutor, Abubakar S. Wara, Itafor was nabbed on February 24, 2024, at Leisure Event Center Wale Olateju Street, Victoria Island, where he was hawking new Naira notes.
Wara told the court that N347,000.00, $1 and £50 were found in Itafor’s possession during his arrest.
He also told the court that Itafor’s illegal act, contravened Section 21(4) of the Central Bank of Nigeria Act 2007, and was punishable under the same Act.
The charge against Italor read: “that you Fabian John Itafor, on or about the 24th day of February 2024 at Leisure Event Center Wale Olateju Street, Victoria Island, in Lagos within the jurisdiction of this Honourable Court;
“…hawked the sum of N347 000.00 (Three Hundred and Forty-Seven 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.”
The convict pleaded guilty to the charge when it was read to him.
After he pleaded guilty as charged the prosecutor called on the court to convict and sentence him in accordance with the section of the Act he was charged with.
Itafor, through his lawyer, claimed to be a first-time offender, begged for leniency and promised not to engage in such an act.
Also, his lawyer pleaded with the court to consider the option of a fine instead of the custodial sentence.
Upon confirming from the prosecutor that the convict is a first-time offender, Justice Ogundare said: “…and without any record of previous conviction, sentenced him to three months of community service, but ordered him to pay the sum of N50,000.00 in lieu of the sentencing.”
Also, the Judge forfeited the convict’s POS machine and the sum of N347, 000, 00; $1, and £50, found on him during his apprehension, to the Federal Government.
