The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, has secured the conviction and sentence Hammed Saka to three months imprisonment for hawking new Naira notes.

Saka was jailed by Justice Ayokunle Faji of the Lagos High Court sitting in Ikoyi, Lagos State.

The charge reads: “That you, Hammed Saka, on or about the 14th day of December 2024, at Villa Dome Event Center, Okotie Eboh Street, Ikoyi, Lagos, within the jurisdiction of this Honourable Court, hawked the sum of N800,000 (Eight Hundred Thousand Naira) issued by the Central Bank of Nigeria and thereby committed an offence contrary to punishable under Section 21 (4) of the Central Bank of Nigeria Act, 2007”.

He pleaded guilty to the charge when it was read to him.

In view of his plea, Prosecution Counsel, S.I. Suleiman, tendered the defendant’s confessional statement as well as the money recovered from him, while also urging the court to convict him as charged.

Delivering judgement on March, 19, 2025 Justice Faji convicted and sentenced Saka to three months imprisonment, with a fine of N100,000.00.