TWO BAG SIX-MONTH JAIL TERMS FOR ILLEGAL NAIRA TRADING IN LAGOS
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By: Fasasi Hammad
The Federal High Court sitting in Ikoyi, Lagos, has convicted and sentenced two persons to six months’ imprisonment each for offences involving the unlawful trading and hawking of naira notes.
Justice A. Aluko handed down the sentences on Tuesday, August 18, 2026, following separate one-count charges filed against the convicts by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
The convicts, Mutairu Omowunmi Tawa and Faith Chukwujeku, pleaded guilty to the charges.
The EFCC said Tawa was arrested for trading N850,000 at the Salamagic Event Centre, Onikan, Lagos, on July 25, 2026, while Chukwujeku was prosecuted for hawking N1.3 million in N200 denominations in Lagos on the same date.
Following their guilty pleas, prosecution counsel, Fanen Anum, presented the facts of the cases and urged the court to convict and sentence the defendants. He also requested the forfeiture of the cash recovered from them to the Federal Government as instruments used in committing the offences.
In his judgment, Justice Aluko found both defendants guilty and sentenced each to six months in prison, with an option of a N50,000 fine.
The judge also ordered the forfeiture of the cash tendered as Exhibit C to the Federal Government.
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