Court Sentences Two Individuals For Unlawful Currency Trading, Involving N1.3 Million

In a recent development, a Federal High Court in Ibadan has sentenced Oluwaseun Nwankpa and Olayode Fadaiya to three months’ imprisonment each for their involvement in illegal currency trading amounting to N1.3 million. Presiding over the case, Justice Ekerete Akpan delivered the verdict, basing it on the evidence presented by the Department of State Services (DSS).

Justice Akpan noted that while he considered the plea for leniency from the defense counsel, he also aimed to deter others from similar actions. Both Nwankpa and Fadaiya, described as first-time offenders who exhibited remorse, were directed to forfeit 10 percent of the money found in their possession to the Federal Government. The remaining 90 percent would be returned to them to initiate lawful businesses.

During the trial, defense counsel Mr. Saheed Ishola appealed for clemency on behalf of his clients. The DSS Prosecutor, Mr. T.A. Nurudeen, emphasized that the duo engaged in unlawful currency trading in February within Ibadan, Oyo State. Nwankpa was found with N844,600, while Fadaiya was apprehended with N469,000 in their respective hideouts.

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