* After pleading guilty
A Federal High Court in Lagos has sentenced a man identified as Fabian John Itafor, for hawking the new Naira notes.
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), slammed him with.
According to the prosecutor, Abubakar S. Wara, the convict was arrested 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 the sum of N347,000.00, $1, £50 were found in the convict’s possession during his arrest.
He also told the court that the convict’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 the convict reads: “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, however, pleaded guilty to the charge when it was read to him.
Having pleaded guilty as charged the prosecutor urged the court to convict and sentence him in accordance with the section of the Act he was charged with.
The convict, through his lawyer, claimed to be a first time offender, pleaded for leniency and vowed not to engage in such an act.
His lawyer also pleaded with the court to consider an option of a fine instead of the custodial sentence.
Justice Ogundare, upon confirming from the prosecutor that the convict is a first time offender 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.:
The Judge also forfeited the convict’s POS machine and the sum of N347, 000, 00; $1, and £50, found on him during his arrest, to the Federal government.