The Lagos Zonal Command of the Economic and Financial Crimes Commission, EFCC, on April 26, 2023, arraigned the trio of Adekunle Akinsinde Alabi, Bakare Taofeek Ajibola and Olawepo Segun Ayinde on a four-count charge bordering on dealing in counterfeit currency and possession of counterfeit currency to the tune of $290,000  before Justice Nicholas Oweibo of the Federal High Court sitting in Ikoyi, Lagos.

They pleaded “not guilty” to the charge preferred against.
In view of their pleas, the prosecution counsel, G.C Akaogu, asked the court for a trial date and also prayed that the defendants be remanded.
The defence counsel, I. Chiaha, however, prayed the court for the defendants to remain in the EFCC custody.
Justice Oweibo adjourned to June 26, 2023 for trial and ordered that the defendants remain in the EFCC custody for two weeks and thereafter be placed in prison custody.
The defendants were arrested by operatives of the National Drug Law Enforcement Agency, NDLEA, in the Oniru area of Lagos on January 19, 2023, following an intelligence report received about their involvement in the alleged criminal activities.
They were subsequently handed over to the EFCC for further investigation and prosecution.
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