Court jails two for illegal naira cash trading at Lagos event centre
The Federal High Court, Lagos Division, on Tuesday sentenced two persons to six months’ imprisonment each after they pleaded guilty to unlawfully trading naira notes.
The court sentenced the duo for unlawfully trading and hawking naira notes. The Economic and Financial Crimes Commission (EFCC) arrested and prosecuted them.
The first convict, Mutairu Omowunmi Tawa, was caught selling and trading N850,000 at the Salamagic Event Centre, Onikan, Lagos on July 25, committing an offence contrary to Section 21(4) of the Central Bank of Nigeria Act. 2007 as amended and punishable under Section 21(10) of the same Act.’
The second defendant, Faith Chukwujeku, was caught hawking N1.3 million in N200 notes in Lagos on July 25, committing an offence contrary to and punishable under Section 21(4) of the Central Bank of Nigeria (Establishment) Act, 2007.
Both convicts pleaded guilty to the charges read to them. The prosecution counsel, Fanen Anum, urged the court to sentence the defendants accordingly.
They were given an option of a N50,000 fine.
The court ordered that cash marked as ‘Exhibit C’ be forfeited to the federal government.
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
World
Three members of same family die in Sussex sea
Three members of the same family were confirmed dead after getting into difficulty in the water off Shoreham-by-Sea on Tuesday.
States
Niger govt unveils N100 million CEmONC equipment to reduce maternal, newborn deaths
Niger government has inaugurated N100 million worth of CEmONC equipment at selected general hospitals across the state to reduce maternal and newborn mortality.
Showbiz
Wladimir Klitschko pays tribute to ex-partner Hayden Panettiere
Former Ukrainian professional boxer Wladimir Klitschko has paid an emotional tribute to his ex-partner, Hayden Panettiere, following the actress’s demise at the age of 36.
Africa
EU allocates €2.3 million to curb cholera outbreaks in Nigeria, Chad, Cameroon, CAR
The European Commission has allocated €2.3 million in emergency humanitarian funding to Nigeria, Cameroon, the Central African Republic and Chad to help contain cholera.
World
Doctors remove 3.1kg bladder stone from man in Sri Lanka
The surgery was performed on Friday, after which the bladder stone, also weighing as much as a newborn baby, was removed.
Anti-Corruption
Court jails two for illegal naira cash trading at Lagos event centre
The court sentenced two persons to six months’ imprisonment each after they pleaded guilty to unlawfully trading naira notes.
