Nigeria, March 21 -- The Federal High Court in Ikoyi, Lagos, has convicted and sentenced a man to three months' imprisonment for hawking new Naira notes.

However, the man, identified in a press statement released Friday by the prosecuting agency, the Economic and Financial Crimes Commission (EFCC), recieved an option of fine in lieu of imprisonment.

The trial judge, Ayokunle Faji, handed down the judgement on Wednesday, the EFCC statement said.

The EFCC disclosed that the convict was found hawking N800,000 on 14 December 2024, at Villa Dome Event Centre, Okotie-Eboh Street, Ikoyi, Lagos, an act that was said to be contrary to and punishable under Section 21(4) of the Central Bank of Nigeria Act, 2007.

Section 21(4) of the Central Bank...