Malik Yahya/
A Federal High Court in Abuja has sentenced one Faisal Muhammad to six months’ imprisonment for illegally hawking and selling Naira notes totaling ₦3.15 million within the Federal Capital Territory.
Justice R. N. Ofili-Ajumogobia handed down the sentence on Tuesday, December 9, 2025, after Muhammad pleaded guilty to a one-count charge filed by the Abuja Zonal Directorate of the Economic and Financial Crimes Commission (EFCC).
Muhammad was arrested in July 2025 at the A.Y.A area of Abuja for openly trading Naira notes—an act prohibited under the Central Bank of Nigeria Act, 2007. According to the EFCC, he was caught with ₦1.7 million in ₦1,000 notes and ₦1.45 million in ₦500 notes, all allegedly acquired for illicit sale.
The charge against him read in part that he “hawked the sums of ₦3,150,000… issued by the Central Bank of Nigeria,” an offence contrary to Section 21(4) of the CBN Act and punishable under Section 21(1) of the same Act.
Following his guilty plea, prosecution counsel Eunice Vou tendered Muhammad’s statement and part of the recovered currency as evidence.
Justice Ofili-Ajumogobia convicted him accordingly and imposed a six-month jail term with an option of a ₦200,000 fine.
The EFCC, in a statement signed by its Head of Media and Publicity, Dele Oyewale, reaffirmed its commitment to enforcing laws against currency abuse and illicit trading in banknotes.
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