Man Arraigned For Alleged Possession Of Counterfeit $4,350 In Lagos

On Thursday, April 10, 2025, the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) brought Moshood Mustapha Olanrewaju before Justice Yellin Bogoro at the Federal High Court in Ikoyi, Lagos, facing a four-count charge related to alleged currency counterfeiting.

Olanrewaju is being prosecuted for allegedly possessing 98 pieces of $50 USD, amounting to a total of $4,350 USD.

One of the counts reads: “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 note, 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.”

Another count reads: “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 note totaling $1,300 (One Thousand Three Hundred United States Dollars), with serial numbers MB61753344C, MB61753471C, MB61753133C, MB61753302C, MB61753228C, MB61753812C, MB61754665C, MB61 753138C, 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.”

The defendant, however, entered a not guilty plea when the charges were presented to him.

In response to his plea, prosecution counsel Zeenat Atiku requested a trial date and urged the court to detain him in the custody of the Nigerian Correctional Service (NCS) pending the start of the trial.

The defence counsel, in reply, asked the court for a brief date to allow him to submit a bail application on behalf of his client.

Justice Bogoro postponed the case until June 9, 2025, for trial and directed that the defendant be held in the custody of the Correctional Service.

A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.

Nnamdi Okoli