Court Jails Two for Illegal Naira Trading in Lagos

The Federal High Court in Lagos has sentenced two persons to six months imprisonment each for illegally trading in naira notes.

Justice A. Aluko of the Federal High Court, Ikoyi, Lagos, convicted and sentenced Mutairu Omowunmi Tawa and Faith Chukwujeku on Tuesday, August 18, 2026, following their arraignment by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).

The EFCC disclosed this in a statement posted on its official X handle on Tuesday.

According to the anti-graft agency, the convicts were separately arraigned on one-count charges bordering on the unlawful trading and hawking of naira notes.

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Tawa was accused of selling and trading N850,000 at Salamagic Event Centre, Onikan, Lagos, on July 25, 2026.

The charge against her stated that she “did sell and trade in the sum of N850,000.00” 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 denominations in Lagos on the same date.

The EFCC said both defendants pleaded guilty to the charges when they were read to them.

Following their pleas, prosecution counsel, Fanen Anum, reviewed the facts of the cases before urging the court 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.

Delivering judgment, Justice Aluko found both women guilty and sentenced each of them to six months imprisonment, with an option of N50,000 fine.

The judge further ordered the forfeiture of the cash marked as Exhibit C to the Federal Government, being “the instrument used in committing the crime,” according to the EFCC.