Anti-corruption and elections / EFCC
Court Sentences Man to One Year Imprisonment for Illegal Foreign Exchange Transactions in Lagos
Justice Yellim Bogoro of the Federal High Court sitting in Ikoyi, Lagos, on Monday, July 20, 2026, convicted and sentenced one Basiru Hassan to one year imprisonment for engaging in foreign exchange transactions outside the official foreign exchange market. Hassan was arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on a one-count charge bordering on engaging in foreign exchange transactions other than through the official foreign exchange market, contrary to Section 11(1)(a) and punishable under Section 11(2)(a) of the National Economic Intelli…
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