WATCH THE VIDEO HERE The Economic and Financial Crimes Commission (EFCC) has arraigned one Moshood Mustapha Olanrewaju on a four-count charge bordering on alleged currency counterfeiting before Justice Yellin Bogoro of the Federal High Court sitting in Ikoyi, Lagos. Olanrewaju was arraigned on Thursday by the Lagos Zonal Directorate 1 of the EFCC for allegedly being in possession of 98 pieces of $50 USD notes, totaling $4,350 USD. One of the counts reads: Another count reads: The defendant, however, pleaded not guilty to the charges when they were read to him. In view of his plea, the prosecution counsel, Zeenat Atiku, asked for a trial date and also urged the court to remand him in the custody of the Nigerian Correctional Service (NCS) pending the commencement of trial. The defence counsel, in response, requested a short adjournment to enable him to file a bail application on behalf of his client. Justice Bogoro adjourned the matter till June 9, 2025, for trial and ordered that the defendant be remanded in the custody of the Correctional Service.
“That you, Moshood Mustapha Olanrewaju (male), adult, sometime in January 2025, in Lagos State, within the jurisdiction of this Honourable Court, had in your possession 21 pieces of counterfeit $50 USD (Fifty United States Dollars) bank notes, totaling $1,050 (One Thousand and Fifty United States Dollars), with serial numbers MB61754676C, MB61754979C, MB61754988C, MB61754449C, MB61753319C, MB61753235C, MB61753885C, MB61754732C, MB61754432C, MB61754435C, MB61753868C, MB61753216C, MB61753103C, MB61753126C, MB61753124C, MB61754037C, MB61753352C, MB61753866C, MB641753346C, MB61753352C, and MB61753363C, knowing the same to be counterfeit, and thereby committed an offence contrary to Section 5(1)(b) and punishable under Section 5(2) of the Counterfeit Currency (Special Provisions) Act, Cap C35, Laws of the Federation of Nigeria, 2024.”
“That you, Moshood Mustapha Olanrewaju (male), adult, sometime in January 2025, in Lagos State, within the jurisdiction of this Honourable Court, had in your possession 26 pieces of counterfeit $50 USD (Fifty United States Dollars) bank notes, totaling $1,300 (One Thousand Three Hundred United States Dollars), with serial numbers MB61753344C, MB61753471C, MB61753133C, MB61753302C, MB61753228C, MB61753812C, MB61754665C, MB61753138C, MB61753851C, MB61753272C, MB61753782C, MB61753115C, MB61753470C, MB61753888C, MB61753898C, MB61754441C, MB61753833C, MB61753872C, MB61754437C, MB61753367C, and MB61754675C, knowing the same to be counterfeit, and thereby committed an offence contrary to Section 5(1)(b) and punishable under Section 5(2) of the Counterfeit Currency (Special Provisions) Act, Cap C35, Laws of the Federation of Nigeria, 2024.”
Court Remands Man In Custody Over Possession Of 98 Counterfeit $50 Bills
