A Federal High Court sitting in Lokoja, Kogi State, has sentenced a man, Kehinde Amaka, also known as Yomade Ademisoye Ojomo, to one year in prison for possessing counterfeit U.S. dollars worth over $2 million.
The conviction was handed down by Justice Isa Dashen on November 12, 2024, after Amaka was found guilty of possessing the fake currency.
The Economic and Financial Crimes Commission (EFCC), which prosecuted the case, said that Amaka’s actions violated Nigeria’s Counterfeit Currency Special Provisions Act.
According to the EFCC, the fake currency found in Amaka’s possession totaled $2,028,400, and was made up of counterfeit $100 bills.
Counterfeit Money and the Law
Justice Dashen convicted Amaka under two sections of the Counterfeit Currency Special Provisions Act, 2004. The charges stated that Amaka knowingly possessed the counterfeit U.S. dollars with the intention to use them illegally.
The second charge was related to Amaka’s possession of materials used to produce the counterfeit bills, including chemical dye and instruments for making fake U.S. dollars.
The prosecution, led by Hadiza Afebua, reminded the court that Amaka was caught in possession of the fake currency on May 15, 2024, in Lokoja. Amaka was charged with the possession of over $2 million in counterfeit money and chemical materials used to produce it.
“On the 15th of May, 2024, you, Kehinde Amaka, were found in possession of $2,028,400 in counterfeit U.S. dollars, knowing that the money was fake,” the charges read.
The prosecution also stated that Amaka’s possession of materials used to make the fake money violated the Counterfeit Currency Act.
EFCC Takes Action
The EFCC was alerted to Amaka’s activities by the National Drug Law Enforcement Agency (NDLEA) in May 2024. According to the EFCC’s First Prosecution Witness, Alonge Opeyemi Joseph, the matter was reported on May 16, 2024, when the NDLEA submitted a petition along with evidence of the counterfeit currency.
“Upon receiving the petition, the EFCC assigned the case to Team B of the Counter Terrorism, General Investigation, and Pension Section,” Joseph explained in court.
The prosecution witness added that the EFCC carried out an investigation and obtained the counterfeit money from Amaka. The money was counted in Amaka’s presence, and his statement was recorded after he was cautioned about his rights.
Joseph also stated that Amaka had voluntarily admitted to the crime, confirming his involvement with the counterfeit money and materials used for its production.
The Importance of Combating Counterfeit Currency
This case highlights the serious threat posed by counterfeit currency to the Nigerian economy. The EFCC has been actively working to combat the circulation of fake money, which can lead to inflation and destabilize financial systems.
Speaking after the conviction, an EFCC official emphasized the importance of addressing counterfeit currency crimes.
“Counterfeit money is a significant threat to Nigeria’s economy, and the EFCC is committed to ensuring that those who engage in such illegal activities are brought to justice,” the official said.
The conviction of Amaka serves as a reminder of the dangers of counterfeit money and the government’s efforts to clamp down on financial crimes in Nigeria.
A Year in Prison
Justice Dashen, in his ruling, sentenced Amaka to one year in prison for possessing the counterfeit money. The court’s decision was based on the severity of the offense and the need to deter others from engaging in similar illegal activities.
Amaka’s sentence has sparked discussions about the importance of enforcing financial laws to protect the integrity of Nigeria’s monetary system. The case has also raised awareness of the role of agencies like the EFCC in investigating and prosecuting financial crimes.
