Operatives of the Lagos Directorate of the Economic and Financial Crimes Commission (EFCC) have arrested two suspects, Adeoti Folake and Adewuyi Modupe, for their alleged involvement in naira abuse. The women were apprehended on Friday, March 21, 2025, while reportedly hawking naira notes in Lagos.
During the operation, EFCC agents recovered sums of ₦3,850,000 and ₦1,600,000 from Folake and Modupe respectively. The suspects are currently under investigation and will be charged to court upon the conclusion of inquiries.
This arrest is part of the EFCC’s broader campaign to restore the dignity of the naira and enforce compliance with laws prohibiting currency abuse. Similar cases have been reported recently, such as the arrest of Kelly Okungbowa (a.k.a Ebo Stone) in Benin City for spraying and mutilating naira notes at a bar. Additionally, TikTok influencer Murja Kunya was detained in Kano for allegedly spraying naira notes during a hotel stay.
The EFCC has faced legal debates regarding its authority to prosecute naira abusers. Some legal experts argue that currency abuse may not fall under the agency’s jurisdiction as defined by its establishing law. Despite this, the EFCC continues to pursue violators aggressively.
