Lagos, Nigeria – The Economic and Financial Crimes Commission (EFCC) has secured the conviction of two individuals, Babatunde Peter Olaitan and Tobilola Olamide, for the offense of Naira mutilation. Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos, delivered the judgment on Thursday, May 8, 2025, sentencing each of the convicts to six months imprisonment.
Olaitan and Olamide were arraigned separately on a one-count charge of tampering with Naira notes by spraying them during a social event. Both defendants pleaded guilty to the charges.
According to the EFCC, the charges against them specified that on April 8, 2025, at 23 Macdonald Road, Ikoyi, Lagos, while dancing at a social gathering, they tampered with N200 Naira notes issued by the Central Bank of Nigeria (CBN) by spraying the currency. This action contravenes Section 21(1) of the Central Bank Act, 2007.
During the court proceedings, EFCC investigative officer Ibrahim Bukar presented evidence detailing the intelligence-driven investigation that led to Olaitan’s arrest. The investigation was initiated on April 10, 2025, following the discovery of a video on TikTok showing Olaitan, also known as TDollar, spraying Naira notes. Bukar informed the court that upon approval from the Zonal Director, Olaitan was invited to make a statement regarding the video.
Section 21(1) of the Central Bank Act, 2007 explicitly prohibits the tampering with Naira notes or coins. Upon conviction, offenders face a penalty of imprisonment for a term not less than six months or a fine not less than N50,000, or both. Subsection 3 of the same section clarifies that “spraying of, dancing or matching on the Naira or any note issued by the Bank during social occasions or otherwise howsoever shall constitute an abuse and defacing of the Naira or such note and shall be punishable under Sub-section (1) of this section.”
This conviction underscores the EFCC’s continued efforts to enforce the laws against the abuse of the Nigerian currency. It serves as a reminder to the public about the legal consequences of such actions, particularly the practice of spraying Naira notes at social events, which is considered a form of defacement under the Central Bank Act.
