By RismadarVoice Media,December 12, 2025
The Federal High Court in Abuja has sentenced a man, Faisal Muhammad, to six months’ imprisonment for hawking and selling Naira notes, in violation of the Central Bank of Nigeria (CBN) Act.
The Economic and Financial Crimes Commission (EFCC) disclosed this in a statement posted on its X handle on Friday.
According to the Commission, Justice R. N. Ofili-Ajumogobia delivered the judgment on Two-count charge filed against him by the EFCC’s Abuja Zonal Directorate.
Muhammad was arrested in July 2025 at the A.Y.A. area of Abuja for allegedly trading in a total of ₦3,150,000 worth of Naira notes.
He was reportedly found with ₦1.7 million in ₦1,000 denominations and ₦1.45 million in ₦500 denominations, which he was illegally selling to the public.
The charge against him stated that he violated Section 21(4) of the CBN Act, 2007, which prohibits the hawking, selling, or trading in Naira notes, an offence punishable under Section 21(1) of the same Act.
During the arraignment on Monday, EFCC Counsel Eunice Vou tendered the defendant’s written statement and part of the recovered cash as evidence.
Muhammad pleaded guilty, prompting the court to proceed directly to sentencing.
Justice Ofili-Ajumogobia held that the prosecution had established its case, noting that the defendant’s admission left no doubt about his involvement in the offence.
She subsequently sentenced him to six months in prison, with an option of a ₦200,000 fine.
The charge reads in part:
“That you, Faisal Mohammed, sometime in July 2025, at A.Y.A, Abuja, within the jurisdiction of the Federal High Court of Nigeria, hawked the sums of Three Million, One Hundred and Fifty Thousand Naira (₦3,150,000) notes issued by the Central Bank of Nigeria, thereby committed an offence contrary to Section 21(4) of the Central Bank of Nigeria Act, 2007, and punishable under Section 21(1) of the same Act.”
The EFCC reiterated its warning against the illegal sale and abuse of Naira notes, stressing that the act is a criminal offence that undermines the integrity of the national currency notes.
