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The Economic and Financial Crimes Commission (EFCC) has successfully convicted Tobilola Olamide, also known as “TobiNation,” and Babatunde Peter Olaitan, known as “TDollar,” for violating Nigerian currency laws.
On Thursday, May 8, 2025, Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos, sentenced both men to six months in prison, with an option to pay a fine of N200,000 each.
The two were charged with tampering with Naira notes in violation of Section 21(1) of the Central Bank Act, 2007. Both pleaded guilty.
The charges stemmed from an incident on April 8, 2025, at a social event held at 23 Macdonald Road, Ikoyi. Videos of the men dancing and spraying N200 notes went viral on TikTok, sparking a criminal investigation.
EFCC investigator Ibrahim Bukar testified that the commission launched an investigation after the video surfaced on April 10, leading to the identification and invitation of the suspects.
“Olaitan admitted to spraying the Naira at a nightclub after receiving a bundle of N200 notes from a fan,” Bukar stated.
The prosecution, represented by C.C. Okezie and H.U. KofarNaisa, presented video evidence and statements from the defendants, all of which were accepted by the court.
Justice Owoeye convicted both defendants and issued the sentence, warning against actions that tarnish the national currency’s reputation.
#Tdollar
#TobiNation
#NairaAbuse
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