A Lagos woman, Bose Lateef, arrested by EFCC operatives while selling Naira notes at the popular Eko Club in Surulere, has been sentenced to jail after pleading guilty to money racketeering charges.

Lateef was arraigned by the EFCC on a one-count charge under Section 21(4) of the CBN Act for hawking N269,000 in N500 denominations at Eko Club, Surulere, on February 16, 2024.

Olagunjo Abdulmalik, an EFCC operative, stated that Lateef confessed to engaging in money racketeering and was found with N507,500 upon arrest.

Lateef pleaded guilty before Justice Deinde Dipeolu of the Federal High Court in Ikoyi, who subsequently declared her guilty as charged. Defence counsel Kolapo Gbadamosi appealed for leniency, stating the seized money was a loan from a cooperative society.

Justice Dipeolu sentenced Lateef to one month imprisonment, with the confiscated N507,500 to be returned to her.