The Lagos Zonal Directorate of the Economic and Financial Crimes Commission has secured the conviction of Hammed Saka for hawking new naira notes.

Justice Ayokunle Faji of the Federal High Court in Ikoyi sentenced Saka to a three-month imprisonment with an option of a N100,000 fine.

This was contained in a press statement issued by the Commission through its official Twitter handle on Friday.

Saka was apprehended on December 14, 2024, at Villa Dome Event Centre, Okotie-Eboh Street, Ikoyi, Lagos, for illegally trading N800,000 worth of new Naira notes, an act contravening Section 21(4) of the Central Bank of Nigeria Act, 2007.

Upon arraignment, Saka pleaded guilty to the charge. Prosecution counsel S.I. Suleiman presented Saka’s confessional statement and the recovered money as evidence, urging the court for a conviction.



https://punchng.com/court-jails-lagos-man-for-selling-new-naira-notes/