In its renewed fight against dolarisation of the economy, the Ilorin Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has secured the conviction of at 46-year-old Bureau De Change (BDC) operator, Muhammed Inuwa, for refusing to accept the Naira as legal tender and for operating without a valid licence.
Inuwa was convicted and sentenced to six months’ imprisonment by Justice Abimbola Awogboro of the Federal High Court sitting in Ilorin on Wednesday, January 21, 2026, after the court found him guilty of a two-count charge preferred against him by the EFCC.
The defendant pleaded guilty to the charges when they were read to him.
Following his plea, the prosecuting counsel, Innocent Mbachie, called the investigating officer, Babatunde Olotu, to review the facts of the case and outline the circumstances surrounding the defendant’s arrest. Mbachie thereafter urged the court to convict and sentence the defendant in line with his plea bargain agreement dated January 15, 2026.
In his judgment, Justice Awogboro found the defendant guilty as charged and sentenced him to six months’ imprisonment on each count, to run concurrently, with an option of a fine of ₦250,000 (Two Hundred and Fifty Thousand Naira) on each count.
