Lagos court sentences two for illegal naira trading

illegal naira trading EFCC currency hawking Lagos court Central Bank of Nigeria Act

A Federal High Court in Ikoyi, Lagos, has sentenced two women, Mutairu Omowunmi Tawa and Faith Chukwujeku, to six months imprisonment for the unlawful trading of naira notes.

The convicts were arraigned by the Economic and Financial Crimes Commission (EFCC) following incidents in July 2026. Tawa was charged with trading N850,000, while Chukwujeku was charged with hawking N1,300,000 in N200 denominations. Both individuals pleaded guilty to violating the Central Bank of Nigeria (Establishment) Act, 2007.

Justice A. Aluko sentenced both individuals to six months in prison, providing an option of a ₦50,000 fine each. The court also ordered the forfeiture of the recovered cash to the Federal Republic of Nigeria.

Entities

Central Bank of Nigeria · Economic and Financial Crimes Commission · Faith Chukwujeku · Federal High Court, Ikoyi · Mutairu Omowunmi Tawa

Sources

Court jails 2 for illegal Naira trading in Lagos [www.nationalaccordnewspaper.com]

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