News
2 Lagos Currency Hawkers Jailed Over Illegal Naira Trading
(Faith Chukwujeku And Mutairu Omowunmi. Photo by Naijaonpoint)
A federal court in Lagos has sentenced two people to six months in prison each after they admitted to illegally trading Nigerian currency.
The first person, Mutairu Omowunmi Tawa, was arrested on July 25 while selling and trading 850,000 naira at an event centre in Lagos.
She was convicted under the Central Bank of Nigeria Act for the offence.
The second person, Faith Chukwujeku, was caught hawking 1.3 million naira in 200-naira notes in Lagos on the same day.
She was also convicted under the same law.
Both defendants pleaded guilty to the charges.
The prosecutor asked the court to sentence them as the law provides.
In addition to the prison terms, they were each given the option to pay a 50,000 naira fine instead.
The court also ordered that the cash seized during their arrests be forfeited to the federal government.
The anti-fraud agency arrested and prosecuted both cases.
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