Justice A. Aluko of the Federal High Court, Ikoyi, Lagos, on Tuesday, August 18, 2026, convicted and sentenced two persons to six months imprisonment respectively for offences bordering on 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 charge each.
The charge
against Mutairu Omowunmi Tawa reads: “That you, Mutairu Omowunmi female, on or
about 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 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 denomination 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.”
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 Republic of Nigeria being the instrument used in
committing the crime.
In his
judgment, Justice Aluko found the duo guilty and sentenced them to six months
imprisonment with an option of ₦50,000 fine each.
Justice
Aluko also ordered that the cash marked as exhibit C be forfeited to the
Federal government being the instrument used in committing the crime.
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