By Gwurld4026 
Lagos Man Faces Charges for $4,350 Counterfeit Currency
On Thursday, April 10, 2025, the Economic and Financial Crimes Commission (EFCC) arraigned Moshood Mustapha Olanrewaju before Justice Yellin Bogoro at the Federal High Court in Ikoyi, Lagos, on a four-count charge related to currency counterfeiting. Olanrewaju was allegedly found in possession of 98 counterfeit $50 U.S. dollar bills, totaling $4,350.
According to the EFCC, the counterfeit notes were discovered in January 2025, with serial numbers such as MB61754676C, MB61754979C, and MB61753363C. The charges indicate that Olanrewaju knowingly possessed these counterfeit notes, violating Section 5(1)(b) of the Counterfeit Currency (Special Provisions) Act, Cap C35, Laws of the Federation of Nigeria, 2024, and is punishable under Section 5(2) of the same Act.
Olanrewaju pleaded not guilty to all charges. Following his plea, the prosecution requested that he be remanded in the custody of the Nigerian Correctional Service (NCS) pending trial. The defense counsel sought a short adjournment to file a formal bail application.
Justice Bogoro granted the prosecution’s request and adjourned the case until June 9, 2025, for trial, ordering that Olanrewaju be remanded in NCS custody until that date.