Man Found Guilty for Selling Naira Notes in Lagos

On June 27, 2025, the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) secured the conviction of Emmanuel Ayodele Areola at the Federal High Court in Ikoyi, Lagos.

Areola was found guilty of hawking Naira notes totaling N1,061,500 in N200 and N500 denominations, which is against the Central Bank of Nigeria (CBN) regulations. The court, presided over by Justice Deinde Dipeolu, sentenced him to enter into a recognizance of good behavior with the EFCC and ordered the forfeiture of the N1,061,500 to the Federal Government of Nigeria. The conviction came after Areola pleaded guilty to the one-count charge brought against him.