Influencers convicted for Naira abuse in Ibadan

In a move signaling the continued crackdown on naira abuse, Justice Uche Agomoh of the Federal High Court in Ibadan has convicted social media influencers Bukola Arike Rufai and Abdulateef Ayinde Jimoh for currency mutilation.

The duo was prosecuted on a joint one-count charge by the Ibadan Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).

The charge specifically stated that on or about September 25, 2024, within the court’s jurisdiction, Bukola Arike Rufai and Abdulateef Ayinde Jimoh “did match on Naira Notes, issued by the Central Bank of Nigeria and thereby committed an offence, contrary to Section 21 (3) of the Central Bank Act 2007 and Punishable under Section 21 (1) of the same Act.”

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While the provided information does not detail the exact nature of their conviction (e.g., whether they received a fine or imprisonment), Section 21(1) of the Central Bank Act 2007 generally stipulates penalties for naira abuse, including imprisonment for a term not less than six months or a fine not less than N50,000, or both.

The EFCC has intensified efforts to curb the abuse and defacement of the national currency, with several high-profile convictions recorded recently.

This conviction serves as a reminder to the public, especially social media personalities, that actions perceived as disrespecting the national currency carry legal consequences, as authorities work to preserve the integrity of the Naira.