Ibadan, July 2, 2025 — The Federal High Court in Ibadan, Oyo State, has convicted two social media personalities, Bukola Rufai and Abdulateef Jimoh, for violating the Central Bank of Nigeria (CBN) Act by abusing the Nigerian currency in viral videos posted online.
Justice Uche Agomoh, who presided over the case, found the defendants guilty of spraying and mutilating naira notes during public events, acts that contravene Section 21(1) of the CBN Act, which prohibits tampering with the currency in any form.
The Economic and Financial Crimes Commission (EFCC) arraigned the duo following an investigation triggered by videos widely circulated on social media showing the influencers throwing naira notes into the air at a party in Ibadan, a common trend condemned by the apex bank.
During the proceedings, both Rufai and Jimoh pleaded guilty to the one-count charge brought against them. The court, taking into consideration their first-time offender status and the public interest nature of the offence, convicted them accordingly.
Justice Agomoh issued a three-month custodial sentence, with an option of community service and fine, warning that the court would not be lenient in future cases involving public disrespect for the national currency. The judge stressed that naira abuse contributes to currency degradation and undermines the financial system.
The EFCC, in a post-verdict statement, reiterated its commitment to enforcing laws against financial and moral misconduct, especially among influencers whose actions could mislead their followers.
The conviction adds to a growing list of prosecutions linked to naira abuse as authorities intensify campaigns to preserve the dignity of the national currency amid rising concerns over financial discipline in both online and offline spaces.
