Man Sentenced For Hawking Naira Notes On Lagos Street

KINGSLEY EBERE 

A man, Emmanuel Ayodele Areola, has been convicted and sentenced to enter recognisance of good behaviour for hawking over N1m Naira notes on the street of Lagos State. 

 

P.M.EXPRESS reports that it was the judgment of Justice Deinde Dipeolu at the Federal High Court, Ikoyi, Lagos, who found him guilty and ordered that the money be forfeited to the Federal Republic of Nigeria.

 

Mr. Areola was arraigned on a one-count charge of hawking Naira notes to the tune of N1,061,500 (One Million and Sixty-one Thousand, Five Hundred Naira) on Friday, June 27, 2025, by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).

 

The charge read: “That you, EMMANUEL AYODELE AREOLA, on the 8th day of November, 2024 in Lagos, within the jurisdiction of this Honourable Court, engaged in hawking the total sum of N1,061,500 (One Million Sixty one Thousand Five Hundred Naira only) in N200 Naira note denomination, with serial numbers to A/26306876 to A/26 306976, W/50 084001 to W/50 084901, Z/12 224896 to Z/12224545 and N500 Naira note denomination, with serial numbers K/06388879 to K/06388980 and K/06 748246 to K/07 591193 issued by the Central Bank of Nigeria, and you thereby committed an offence contrary to and punishable under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.”

He pleaded guilty.

In view of his plea, prosecution counsel, H.U.Kofarnaisa, presented the facts of the matter and tendered the defendant’s statement in evidence. She thereafter, urged the court to convict the defendant and order the forfeiture of the money recovered from him to the Federal Government of Nigeria.

 

The presiding judge, Justice Dipeolu, convicted him accordingly and ordered the forfeiture of the sum of N1,061,500 to the Federal Government of Nigeria.

 

Justice Dipeolu however, sentenced him to enter recognisance of good behaviour with the commission having ordered the forfeiture of the money.