By Peter Jene, Senior National Correspondent
IKOYI, Lagos – The Economic and Financial Crimes Commission (EFCC) Lagos Zonal Command has obtained Bose Lateef’s conviction and punishment for money racketeering in a historic ruling. Justice Deinde Dipeolu of the Federal High Court, located in Ikoyi, Lagos, gave the decision.
Bose Lateef was charged with one count of Naira racketeering under Section 21(4) of the CBN Act by the EFCC. The charge detailed her offence, stating that on or about February 16, 2024, at Eko Club, Surulere, Lagos, Lateef hawked the sum of N269,000 in N500 denominations, an act prohibited by law.
Upon being presented with the charge, Lateef pleaded guilty, prompting the counsel to the EFCC, A.S. Wara, to call on Olagunjo Abdulmalik, an EFCC operative, to present the facts of the case. Abdulmalik told the court that the Commission had received solid intelligence that resulted in Lateef’s apprehension on February 15, 2024, while he was hawking Naira notes at the Eko Club in Surulere, Lagos. The entire amount of N507,500 was taken from her at the moment of her arrest.
Lateef admitted to money racketeering and selling Naira notes in her statement to the EFCC. Subsequently, the EFCC sought to tender her statements and the recovered cash as evidence, which Justice Dipeolu admitted and marked as exhibits against her.
Following the guilty plea and the presentation of evidence, Justice Dipeolu convicted Lateef as charged. During the sentencing phase, defence counsel Kolapo Gbadamosi pleaded for leniency, stating that the money found in Lateef’s possession was a loan from a cooperative society. Gbadamosi implored the court to allow Lateef to return the money and forgive her, citing her status as a first-time offender and remorsefulness.
Conclusion:
In his ruling, Justice Dipeolu sentenced Lateef to one month imprisonment, with the term to commence from the day of her arrest by the EFCC. Additionally, the court ordered that the sum of N507,500 cash recovered from Lateef be returned to her. The judgment serves as a significant deterrent against Naira racketeering and underscores the commitment of the EFCC to combat financial crimes in Nigeria.
