By Nkechi Eze
The Federal High Court in Abuja has sentenced one Faisal Muhammad to six months’ imprisonment for unlawfully hawking and selling Naira notes, in violation of the Central Bank of Nigeria (CBN) Act.
In an official signed statement, EFCC spokesperson Dele Oyewale disclosed that Muhammad was arraigned before Justice R. N. Ofili-Ajumogobia by the Abuja Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on Monday, 1 December 2025, on a one-count charge bordering on currency trafficking.
According to the charge sheet, Muhammad was arrested in July 2025 at the A.Y.A area of Abuja while hawking a total of N3,150,000 in Naira denominations comprising N1,700,000 in N1,000 notes and N1,450,000 in N500 notes.
The charge read:
“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… and 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.”
Muhammad pleaded guilty to the offence. Following his plea, the prosecuting counsel, Eunice Vou, tendered his written statement and portions of the N1,000 and N500 notes recovered from him at the time of arrest.
Justice Ofili-Ajumogobia convicted him based on his voluntary admission and the evidence presented, stating that he was guilty “under Section 21(4) of the CBN Act, 2007.” She thereafter sentenced him to six months’ imprisonment with an option of a N200,000 fine.
The EFCC noted that the conviction reinforces ongoing efforts to curb the illicit trade of the nation’s currency, which undermines monetary policy and violates federal law.
