Here’s the rewritten version in your requested four-paragraph, concise AP-style format. (The Guardian Nigeria)

The Federal High Court in Ikoyi, Lagos, has convicted and sentenced four people over offences involving illegal foreign exchange transactions and unlawful trading of naira notes. Justice F.N. Ogazi delivered the judgments Friday after the defendants were prosecuted by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission.

The convicts — Ahmad Umar Baros, Aminu Umar Injay, Yusuf Suleimon and Olasunbo Sholanke — were arraigned separately on Aug. 6, 2026, on one-count charges. Baros and Injay were accused of conducting foreign exchange transactions outside the official market, while Suleimon and Sholanke faced charges relating to the unlawful sale and trading of naira notes.

All four defendants pleaded guilty after the charges were read in court. EFCC prosecutors N.K. Ukoha, Ebuka Okongwu and U.S. Kyari presented the facts of the cases and asked the court to convict and sentence the defendants in line with the law. Justice Ogazi subsequently found all four guilty as charged.

Baros was sentenced to two months in prison for the illegal foreign exchange offence. Injay, Suleimon and Sholanke each received six-month prison terms, with an option of paying a ₦100,000 fine.