EFFCC Arraigned Man in Court for Refusing Naira as Legal Tender

The Lagos Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on Wednesday, February 5, 2025, arraigned one Precious Chimaobi Uzondu on a two-count charge bordering on alleged refusal to accept Naira as a legal tender before Justice A.O. Owoeye of the Federal High Court sitting in Ikoyi, Lagos.

One of the counts reads: “That you, Precious Chimaobi Uzondu, on the 10th of December 2024, in Lagos, within the jurisdiction of this Honorable Court, refused to accept Naira (Nigeria’s legal tender) by accepting the sum of $5700 (Five Thousand Seven Hundred USD) as a means of payment for a purchase of a Carter diamond bracelet with a serial number (12345678) and you thereby committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.

When the charges were read to him, the defendant pleaded “not guilty.” In view of his pleas, prosecution counsel Hannatu U. KofarNaisa prayed to the court for a trial date and for the defendant to be remanded in a Correctional Centre.

Counsel to the defendant, Jennifer Achinuagole, informed the court of a pending bail application and prayed the court to adopt the same as her oral application.

Responding, KofarNaisa informed the court about a counter affidavit to the application and a written address. She prayed the court to accept the same and discount the defendant’s application.

After listening to both parties, Justice Owoeye admitted the defendant to bail in the sum of N5m, with two sureties in like sum. The sureties must own landed properties in Lagos, which must be verified by the court, and also swear to an affidavit of means.

The Judge also ordered the remand of the defendant in the Ikoyi Correctional Centre and adjourned till April 8, 2025, for the commencement of trial.