The Federal High Court in Lagos has sentenced two persons to six months’ imprisonment each for illegally trading and hawking naira notes.
The Economic and Financial Crimes Commission (EFCC) prosecuted the two defendants, Mutairu Omowunmi Tawa and Faith Chukwujeku, after their arrests in Lagos.
Tawa was arrested on July 25 at Salamagic Event Centre, Onikan, Lagos, while trading N850,000 in naira notes. The offence contravened Section 21(4) of the Central Bank of Nigeria Act, 2007, as amended, and is punishable under Section 21(10) of the Act.
Chukwujeku was also arrested in Lagos on the same day for hawking N1.3 million in N200 notes. She was charged under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.
Both defendants pleaded guilty to the charges when they were read to them.
Prosecution counsel, Fanen Anum, urged the court to sentence them in accordance with the law.
The court sentenced each defendant to six months in prison, with an option of a N50,000 fine.
It also ordered the forfeiture to the Federal Government of the cash marked as Exhibit C.
