Man Sentenced To Five Years Imprisonment For Possession Of Fake Currency

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The Economic and Financial Crimes Commission, EFCC on Friday  July 24, 2020 secured  the conviction of one Folarin Olayinka who was arrested and arraigned before the Federal High Court sitting in  Ikoyi Lagos State for possession of fake currency.

The presiding judge in charge of the case, Justice Chukwujekwu Aneke found him guilty as charged.

Folarin Olayinka pleaded not guilty to the charges levelled against him,

One of the count read:

“that you Folarin Olayinka on or about the 29th day of January 2008, at Idi-Iroko Lagos within the jurisdiction of the Federal High Court with intent to defraud, attempted to export without lawful authority, 79 pieces of United States of America Global Currency Services Money Order, valued at $38, 315. 00 (Thirty Eight Thousand, Three Hundred and Fifteen United States of American Dollars) knowing them to be counterfeit and thereby committed an offence contrary to Section 6(1) and punishable under Section 3(b) of the Counterfeit currency (Special Provision) Act Cap. C 35, Laws of the Federation of Nigeria, 2004.

In his verdict, Justice Chukwujekwu Aneke on behalf of Justice John Tsoho, a former Federal High Court Judge in the Lagos jurisdiction, who is now the Chief Judge of the Federal High Court in Nigeria, the court found the convict guilty on counts 1 & 2 of the charges preferred against him by the Economic and Financial Crimes Commission, EFCC, Lagos Zonal Office and sentenced him accordingly to five years imprisonment on each count. The sentence runs concurrently.

Justice Chukwujekwu Aneke also instructed that the fake money should be destroyed within 90 days, that  this if there is no appeal and he also ordered the money found on him should be forfeited the to the Federal Government of Nigeria.

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Wisdom Iwu
Wisdom Iwu
Wisdom Iwu can be found writing, designing and developing all sorts of great content. A freelance writer, thinker and lifelong learner with an ongoing curiosity to learn new things. Check out his social media accounts below:

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