The Economic and Financial Crimes Commission (EFCC) has made headlines after securing the conviction of socialites Babatunde Peter Olaitan, popularly known as TDollar, and Tobilola Olamide, aka TobiNation, for abusing the Naira.
The duo was sentenced to six months imprisonment each, with an option of a ₦200,000 fine, by Justice Alexander Owoeye of the Federal High Court, Ikoyi, on Thursday, May 8, 2025.
According to the EFCC, the pair was found guilty of violating Section 21(1) of the Central Bank Act, 2007, for spraying ₦200 notes at a party held at 23 Macdonald Road, Ikoyi, Lagos, on April 8. Viral TikTok videos sparked an investigation that led to their arrest.
Upon interrogation, TDollar admitted he was gifted the cash bundle at a club and decided to spray it on fans. The court admitted both his confession and video evidence.
The EFCC emphasized its commitment to clamping down on the mutilation of Nigeria’s currency, a practice now under tight scrutiny. The ruling has ignited heated reactions across social media as many debate the seriousness of the punishment for what some consider a cultural practice at events.
