EFCC Arraigns 3 Men For Allegedly Counterfeiting $290k USD

 

The Economic and Financial Crimes Commission (EFCC), today, arraigned three men before a Lagos Federal High Court, for allegedly counterfeiting the sum of $290, 000, 00 USD

The three men are: Adekunle Akinsinde Alabi, Bakare Taofeek Ajibola And Olawepo Segun Ayinde.

They were arraigned before the court presided over by Justice Nicholas Oweibo on four counts charge of conspiracy and offer for sale, dealing and possession of counterfeit $290, 000, 00.

The EFCC prosecutor, Emeka Akaogu, told the court that the defendants committed the offences in Lagos, on January 20, 2023.

The prosecutor told the court that the offences committed by the three men, are contrary to and punishable under Sections 6(2)(b) and 5(1}(b) and punishable under Section 4(1) and 5(1}(b)of Counterfeit Currency (Special Provisions) Act Cap. C35, Law of the Federation of Nigeria, 2004. 

All the defendants pleaded not guilty to the charges. And upon their not guilty plea, the prosecutor asked for trial date, while also urged the court to remand the defendant in the custody of the Nigerian Correctional Services (NCoS) till the determination of the charges against them.

But Mr. I. Chiaha, told the court that his clients have opted to plea bargain.
He therefore asked the court for a short time for him to finalize the plea bargain arrangement.
He also pleaded with the court to remand his clients in the EFCC custody, on the ground that the first and second defendants are battling seriously health challenges. 

The prosecutor however told the court that he was unaware of the defendants’ health issues.

Justice Oweibo, after hearing the submissions of counsel, ordered that the defendants be remanded in the EFCC custody for two weeks, and be moved to the facility of the NCoS if they are unable to complete and bring the application for the plea bargain arrangement before the court.

The judge subsequently adjourned the matter till June 26, for trial.

Charges against the defendants read: “that you, Adekunle Akinsinde Alabi, Bakare Taofeek Ajibola and Olawepo Segun Ayinde or about the 20th January, 2023 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to deal in counterfeit currency, to wit, offer for sale the sum of $290,000 (Two Hundred and Ninety Thousand USD) counterfeit currency, contrary to and Section 6(2)(b) and punishable under Section 4(1) of Counterfeit Currency (Special Provisions) Act Cap. C35, Law of the Federation of Nigeria, 2004. 

“That you, Adekunle Akinsinde Alabi, Bakare Taofeek Ajibola And Olawepo Segun Ayinde or about the 20th January, 2023 in Lagos, within the jurisdiction of this Honourable Court, dealt in counterfeit currency, to wit; offer for sale of the sum of $290, 000 (Two Hundred and Ninety Thousand USD) counterfeit currency, contrary to and punishable under Section 4(1) of Counterfeit Currency (Special Provisions) Act Cap. C35, Law of the Federation of Nigeria, 2004 

“That you, Adekunle Akinsinde Alabi, Bakare Taofeek Ajibola And Olawepo Segun Ayinde or about the 20th January, 2023 in Lagos, within the jurisdiction of this Honourable Court, conspired amongst yourselves to be in possession of counterfeit currency, to wit: possession of the sum of $290, 000 (Two Hundred and Ninety Thousand USD) counterfeit currency, contrary to Section 6(2)(b) and punishable under section 5(1)(b) of Counterfeit Currency (Special Provisions) Act Cap. C35, Law of the Federation of Nigeria, 2004. 

“That you, Adekunle Akinsinde Alabi, Bakare Taofeek Ajibola and Olawepo Segun Ayinde or about the 20th January, 2023 in Lagos, within the jurisdiction of this Honourable Court, had in your in possession the sum of $290, 000 USD (Two Hundred and Ninety Thousand United Dollars) counterfeit currency, contrary to and punishable under Section 5(1)(b) of Counterfeit Currency (Special Provisions) Act Cap. C35, Law of the Federation of Nigeria, 2004.”