Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, has sentenced two individuals identified as, Babatunde Peter Olaitan and Tobilola Olamide, to six months imprisonment each for mutilation of Naira notes.
The convicts were arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC), on a separate one-count charge of tampering with the Naira notes and spraying, to which they each pleaded guilty.
According to a statement on EFCC’s official X handle, the incident occurred on April 8, 2025, at a nightclub on Macdonald Road, Ikoyi where Olaitan, also known as TDollar, tampered with the Nigeria currency by spraying Naira notes.
The statement reads:
” 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:’hat 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.” [CONTINUE READING HERE]>>>>
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