A 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) in a statement shared on its X handle on Friday, said that Justice R. N. Ofili-Ajumogobia delivered the judgement on Tuesday, December 9, 2025, after Muhammad pleaded guilty to a one-count charge brought against him by the Abuja Zonal Directorate of the Commission.
According to the statement, Muhammad was arrested in July 2025 at the A.Y.A. area of Abuja while allegedly trading in a total of N3,150,000 worth of Naira notes.
The anti-graft agency stated that, he was found with N1.7 million in N1000 denominations and N1.45 million in N500 denominations, which were reportedly being sold illegally.
The charge against him stated that he violated Section 21(4) of the CBN Act, 2007, which prohibits the hawking, selling, or otherwise trading in Naira notes, an offence that is punishable under Section 21(1) of the same Act.
During Monday’s arraignment, EFCC counsel Eunice Vou tendered Muhammad’s written statement and a portion of the recovered cash as evidence. The defendant pleaded guilty, prompting the court to proceed with sentencing.
Justice Ofili-Ajumogobia held that the prosecution had established its case, noting that the defendant’s admission of guilt left no doubt regarding his involvement in the offence.
She sentenced Muhammad to six months in prison, with an option of a N200,000 fine.
The charge reads: “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 (N3,150,000) notes issued by the Central Bank of Nigeria in denominations of One Thousand Naira (N1,000) totaling One Million, Seven Hundred Thousand Naira (N1,700,000) and Five Hundred Naira (N500) totaling One Million, Four Hundred and Fifty Thousand Naira (N1,450,000); and you 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 has repeatedly warned against the illegal sale and abuse of Naira notes, describing the act as a criminal offence that undermines the integrity of Nigeria’s currency.
