A Federal High Court in Ilorin has handed down jail sentences to three men convicted of trafficking counterfeit currencies. Justice Abimbola Awogboro presided over the case, which was prosecuted by the Economic and Financial Crimes Commission.
Salisu Nura, a cattle transporter from Jigawa State, received two years imprisonment. Umar Mikailu, a schoolteacher from Kano State, got the same sentence.
Haruna Abukakar, who operated as a Bureau de Change agent, was sentenced differently. He'll spend 12 months in jail or pay a fine of N1 million.
Court officials found the men guilty of possessing and distributing fake United States dollars and British pounds. They also faced charges related to unlicensed financial operations.
According to the court record, NDLEA operatives in Kwara stopped the suspects on January 27, 2026. The agents discovered incriminating materials during a routine search operation.
Investigators recovered 435 counterfeit $100 notes from Nura during arrest. He also had 378 fake £50 notes in his possession.
Evidence presented showed the counterfeit $100 bills carried identical serial numbers. This indicated a wider network involved in currency counterfeiting activities.
Nura initially denied all charges and proceeded to trial. The other two defendants, however, changed their pleas and admitted guilt.
Prosecutors Ola Sesan and Rashidat Alao presented confessional statements to the court. They submitted physical evidence linking all three men to the crimes.
The prosecution team argued the evidence proved guilt beyond any reasonable doubt. Their witnesses corroborated details about the illegal transactions.
Justice Awogboro noted these crimes strike at Nigeria's financial stability. He described the offences as serious violations of the country's monetary laws.
For Nura and Mikailu, prison time is mandatory without fine options. Both men will serve their full two-year terms behind bars.
Abukakar's sentence offers some flexibility since he can pay instead. The N1 million fine provides an alternative to serving his time.
Courts have ordered all counterfeit notes seized during investigations forfeited to government. Nigerian authorities will destroy the fake currencies to prevent further circulation.
The EFCC transferred the case after NDLEA made the initial arrests. This cooperation between agencies helped secure the convictions in court.
