The Federal High Court sitting in Lagos has convicted and sentenced two persons to six months’ imprisonment each for unlawfully trading in naira notes.
Justice A. Aluko of the Federal High Court, Ikoyi, Lagos, handed down the sentences on Tuesday, August 18, 2026, after the convicts, Mutairu Omowunmi Tawa and Faith Chukwujeku, separately pleaded guilty to one-count charges brought against them by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
The charge against Tawa alleged that on or about July 25, 2026, at Salamagic Event Centre, Onikan, Lagos, she sold and traded N850,000, contrary to Section 21(4) of the Central Bank of Nigeria Act, 2007, as amended, and punishable under Section 21(10) of the same Act.
Chukwujeku was charged with engaging in the hawking of N1.3 million in N200 denomination notes issued by the Central Bank of Nigeria on July 25, 2026, contrary to and punishable under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.
They 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 it to convict and sentence the defendants accordingly.
Anum also urged the court to order the forfeiture to the Federal Government of the exhibits recovered from the convicts, describing the cash 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’ imprisonment, with an option of N50,000 fine.
The judge also ordered that the cash marked as Exhibit C be forfeited to the Federal Government as an instrument used in committing the offence.
