Justice Yellin Bogoro of the Federal High Court in Ikoyi, Lagos, on Friday , delivered a judgement sentencing two women to one year imprisonment each for hawking Naira notes.
According to a Sunday statement on X by the EFCC, the defendants were charged separately by the Lagos Zonal Directorate 1 for illegal currency trading.
The convicts, Folake Adeoti and Modupe Adewuyi, were apprehended by the EFCC on March 21 while illegally trading currency in Ikeja. Adeoti, a repeat offender, was caught with N3.85 million, while Adewuyi had N1.6 million.
Both pleaded guilty to the charges. Adeoti was jailed without an option of fine, while Adewuyi received the same term with a N500,000 fine.
The court also ordered the forfeiture of their POS machines and recovered money to the federal government. The EFCC continues to warn against Naira abuse, including spraying and hawking, which remain criminal acts.
