EFCC secures prison sentences for illegal naira and forex trading

EFCC illegal foreign exchange naira trading arms smuggling Nigeria Customs Service

A Federal High Court in Ikoyi, Lagos, has sentenced four individuals for illegal foreign exchange transactions and the unlawful trading of naira notes. The convicts, identified as Ahmad Umar Baros, Aminu Umar Injay, Yusuf Suleimon, and Olasunbo Sholanke, were arraigned by the Economic and Financial Crimes Commission (EFCC).

Ahmad Umar Baros was sentenced to two months' imprisonment for engaging in foreign exchange transactions outside the official market. Aminu Umar Injay, Yusuf Suleimon, and Olasunbo Sholanke each received six months' imprisonment, or a fine of N100,000, for the illegal sale and trading of naira notes.

Entities

Economic and Financial Crimes Commission · Federal High Court · Lagos · Nigeria Customs Service

Sources

“Firearms, Ammunition Allegedly Concealed In Container” — Court Remands Godson, Eze Pending Customs Probe - TheNigeriaLawyer [thenigerialawyer.com]

about 1 month ago

EFCC cracks down on illegal foreign exchange, naira trading, jails 4 - Blueprint Newspapers Limited [blueprint.ng]

about 1 month ago

Lagos court remands two as customs probe arms shipment [punchng.com]

about 1 month ago