By Ghazali Ibrahim
The Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced two persons to six months’ imprisonment each for illegally trading and hawking naira notes.
Justice A. Aluko handed down the sentences on Tuesday, August 18, 2026, after the two convicts pleaded guilty to separate charges brought against them by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
The convicts, Mutairu Omowunmi Tawa and Faith Chukwujeku, were arraigned separately on one-count charges bordering on unlawful trading in naira notes.
Tawa was accused of selling and trading N850,000 at Salamagic Event Centre, Onikan, Lagos, on July 25, 2026, contrary to Section 21(4) of the Central Bank of Nigeria Act, 2007, as amended.
Chukwujeku, on her part, was accused of hawking N1.3 million in N200 denomination notes in Lagos on the same date, contrary to Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.
Both defendants pleaded guilty when the charges were read to them.
Following their pleas, prosecution counsel, Fanen Anum, reviewed the facts of the cases before the court and urged Justice Aluko to convict and sentence the defendants accordingly.
Anum also asked the court to order the forfeiture of the exhibits recovered from the convicts to the Federal Government, describing them as instruments used in committing the offences.
In his judgment, Justice Aluko found Tawa and Chukwujeku guilty and sentenced each of them to six months in prison, with an option of a N50,000 fine.
The judge further ordered that the cash marked as Exhibit C be forfeited to the Federal Government as an instrument used in committing the offence.
