The long arm of the law has caught up with two Lagos residents after a Federal High Court sitting in Ikoyi sentenced them to six months imprisonment each for illegal trading and hawking of naira notes.
Justice A. Aluko handed down the judgment on Tuesday, August 18, 2026, after the Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate 1, arraigned the duo — Mutairu Omowunmi Tawa and Faith Chukwujeku — on separate one-count charges bordering on unlawful dealings in the Nigerian currency.
Court documents revealed that Tawa was accused of selling and trading N850,000 at the Salamagic Event Centre, Onikan, Lagos, on July 25, 2026, an offence said to be in violation of the Central Bank of Nigeria Act.
Chukwujeku, on her part, was accused of hawking N1.3 million in N200 denominations on the same day in Lagos, contrary to provisions of the Central Bank of Nigeria (Establishment) Act, 2007.
Both defendants admitted committing the offences when the charges were read to them before the court.
Following their guilty pleas, EFCC prosecutor Fanen Anum presented the facts of the cases and urged the court to convict and punish the offenders according to the law.
The prosecutor also asked the court to order the forfeiture of the cash recovered from the convicts, arguing that the money was the instrument used in carrying out the illegal transactions.
In his ruling, Justice Aluko found both women guilty and sentenced each of them to six months in prison.
However, the judge gave them an option of paying a ₦50,000 fine each.
The court further ordered that the cash admitted as Exhibit C be permanently forfeited to the Federal Government as proceeds and tools linked to the offence.
The conviction comes amid renewed efforts by authorities to clamp down on illegal naira trading, including the activities of currency hawkers and traders accused of undermining the country’s financial regulations.
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