Federal High Court Sentences Two Women to One Year Imprisonment Each for Naira HawkingJustice Yellin Bogoro of the Federal High Court in Ikoyi, Lagos, has sentenced Folake Adeoti and Modupe Adewuyi to one year in prison each for illegal hawking of Naira notes, in breach of the Central Bank of Nigeria Act.
The Economic and Financial Crimes Commission (EFCC) stated that both women were arraigned separately on one-count charges for currency trading by its Lagos Zonal Directorate 1.
Adeoti, previously convicted for the same offence, was arrested on March 21, 2025, in Ikeja while hawking N3.85 million. Adewuyi was caught that same day with N1.6 million in various denominations. Both pleaded guilty to the charges.
Following the presentation of confessional statements and cash evidence by EFCC counsel Z.B. Atiku, the court sentenced Adeoti without the option of a fine and ordered the forfeiture of her POS device and cash to the federal government. Adewuyi was also sentenced to a year in prison but was given the option of paying a N500,000 fine, and her POS device and recovered cash were similarly forfeited.
The EFCC reiterated its warning to the public against the abuse of the Naira, noting that acts such as hawking, spraying, or mutilating currency remain punishable of fences.
ource : https://punchng.com/
