Justice F.N. Ogazi of the Federal High Court in Ikoyi, Lagos, has convicted and sentenced four people over offences involving illegal foreign exchange transactions and unlawful trading of naira notes.
The convicts, Ahmad Umar Baros, Aminu Umar Injay, Yusuf Suleimon and Olasunbo Sholanke, were separately arraigned by the EFCC’s Lagos Zonal Directorate 1 on Thursday, August 6, 2026.
Baros was convicted for engaging in foreign exchange transactions outside the official forex market and sentenced to two months in prison. Suleimon and Sholanke were convicted for illegally selling and trading naira notes.
All four defendants pleaded guilty to the charges. The court sentenced Baros to two months’ imprisonment, while the other three received six months each, with an option of ₦100,000 fine each.
Daily Times
