Justice A. Aluko of the Federal High Court, Ikoyi, Lagos, on Tuesday, August 18, 2026, convicted and sentenced two persons to six months’ imprisonment each for offences bordering on the unlawful trading of naira notes.
The convicts, Mutairu Omowunmi Tawa and Faith Chukwujeku, were separately arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) on one-count charges each.
The charge against Mutairu Omowunmi Tawa reads: “That you, Mutairu Omowunmi, female, on or about the 25th of July, 2026, at Salamagic Event Centre, Onikan, Lagos, within the jurisdiction of this Honourable Court, did sell and trade in the sum of N850,000.00 and thereby committed an offence 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.”
The charge against Faith Chukwujeku reads: “That you, Faith Chukwujeku, on the 25th of July, 2026, in Lagos, within the jurisdiction of this Honourable Court, engaged in hawking the total sum of N1,300,000 (One Million, Three Hundred Thousand Naira) in N200 note denominations issued by the Central Bank of Nigeria and thereby committed an offence contrary to and punishable under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.”
They both pleaded guilty when the charges were read to them.
Following their guilty pleas, prosecution counsel, Fanen Anum, reviewed the facts of the cases and urged the court to convict and sentence them accordingly.
He further urged the court to order the forfeiture of the exhibits recovered from the convicts to the Federal Government of Nigeria, being instruments used in committing the offences.
In his judgment, Justice Aluko found both defendants guilty and sentenced each of them to six months’ imprisonment, with an option of a N50,000 fine.
Justice Aluko also ordered that the cash marked as Exhibit C be forfeited to the Federal Government of Nigeria, being the instrument used in committing the offence.
