Court Jails Two for Trading Naira Notes at Lagos Event Centre

By Modupe Gbadeyanka

Two persons have been convicted and sentenced by Justice A. Aluko of the Federal High Court, Ikoyi, Lagos, for illegal Naira trading.

The judge found the duo of Ms Mutairu Omowunmi Tawa and Ms Faith Chukwujeku guilty and sentenced them to six months’ imprisonment with an option of a N50,000 fine each.

Their sentencing on Tuesday, August 18, 2026, followed their arraignment by the Economic and Financial Crimes Commission (EFCC) on one-count charge each bordering on unlawful trading of Naira notes.

“That you, Mutairu Omowunmi female, on or about July 25, 2026, at Salamagic Event Centre, Onikan, Lagos, within the jurisdiction of this court, did sell and trade in the sum of N850,000 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 Ms Mutairu read.

“That you, Faith Chukwujeku on July 25, 2026, in Lagos within the jurisdiction of this court engaged in hawking the sum of N1.3 million in N200 note denomination issued by the Central Bank of Nigeria (CBN) and thereby committed an offence contrary to and punishable under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007,” the charge against Chukwujeku read.

They pleaded guilty when the charges were read to them.

Following their guilty pleas, the prosecution counsel, Mr 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, being the instruments used in committing the crime.