Court Sentences Man To 3-Month Jail Term For Hawking Naira In Lagos

The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has obtained the conviction of one Hammed Saka, who was sentenced to three months in prison for hawking new Naira notes.

Justice Ayokunle Faji of the Federal High Court sitting in Ikoyi, sentenced Saka to jail after he pleaded guilty to the charge when it was read to him.

The EFCC in a statement on Friday said the convict was given an option of fine in lieu of imprisonment.

The charge read, “That you, Hammed Saka, on or about the 14h day of December, 2024, at Villa Dome Event Centre, Okotie-Eboh Street, Ikoyi, in Lagos, within the jurisdiction of this Honourable Court, hawked the sum of N800,000.00 (Eight Hundred Thousand Naira) issued by the Central Bank of Nigeria and thereby committed an offence contrary to and punishable under Section 21(4) of the Central Bank of Nigeria Act, 2007.”

Following his guilty plea, the prosecution counsel, S.I. Suleiman tendered the defendant’s confessional statement and the money recovered from him while also urging the court to convict him as charged.

Delivering judgment on March 19, 2025, Justice Faji convicted and sentenced Saka to three months imprisonment with a fine of N100,000.00.

The judge also ordered the N800,000 recovered from the convict to be forfeited to the Federal Government of Nigeria.