An Ilorin Federal High Court has sentenced two individuals to 300 hours of community service for financial crimes, reinforcing the crackdown on economic offences in Nigeria.

Justice Abimbola Awogboro convicted Musa Buba for running an unlicensed bureau de change business and Akinwale Olamilekan for cyber fraud. The court ruled that both men would serve their sentences at five hours per day without the option of a fine.

The Economic and Financial Crimes Commission (EFCC) had arraigned the convicts on separate charges on March 20, 2025. Musa Buba was found guilty of operating a currency exchange business at Chikanda Market, Baruten Local Government Area of Kwara State, without a valid license from the Central Bank of Nigeria (CBN). On the other hand, Akinwale, an indigene of Osun State, was convicted of impersonating an American woman, Mary Williams, to defraud a foreign victim of $950 via iMessage.

Speaking on the judgment, EFCC prosecutor Andrew Akoja said, “This ruling sends a strong message that financial crimes, whether offline or online, will not be tolerated. The Commission remains committed to enforcing the law.”

Justice Awogboro also ordered the forfeiture of N1,973,200 and 409,500 CFA recovered from Musa Buba to the Federal Government. Similarly, Akinwale was directed to forfeit an iPhone 12 Pro Max and $450 as restitution for his crime.

With the rise in unregulated forex transactions and cyber fraud, authorities have intensified efforts to curb illegal financial activities, warning perpetrators to steer clear of economic crimes.