Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday, April 15, 2025, convicted and sentenced one Uzondu Precious Chimaobi to four years imprisonment for his refusal to accept the Naira as a legal tender
Chimaobi was arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi, Lagos, on February 5, 2025 on a two-count charge bordering on refusal to accept the Naira as a legal tender.
One of the counts reads: "That you, Precious Chimaobi Uzondu, on the 10th of December 2024, in Lagos, within the jurisdiction of this Honourable Court, refused to accept Naira (Nigeria legal tender) by accepting the sum of $5700 ( Five Thousand Seven Hundred USD) as a means of payment for a purchase of a cartier diamond bracelet with serial number (12345678) and you, thereby , committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.”
He initially pleaded not guilty to the charge, leading to his full trial.
Subsequently, the prosecution presented its first witness, PW1, Owolabi Oyarekhua Jude, an operative of the EFCC.
Led in evidence by the prosecution counsel, H.U. Kofarnaisa, Jude told the court that “the Commission received intelligence on the activities of a jewelry company called Unlimited Jewellers Limited, “whose owner is one Uzondu Precious Chimaobi.
“The Company, which deals in jewelry at Atlantic Mall, Chevron Drive, Lekki, Lagos intentionally tags and sells its products in Dollars as against the CBN Act, 2007 ,which stipulates Naira as the only legal tender in Nigeria.”
Continuing, he added that “ Subsequently, a covert operation was carried out , where an undercover operative of the Commission disguised as a customer to purchase a Diamond Nail bracelet that was tagged $6000 and bought it for $5700.
One of the counts reads: "That you, Precious Chimaobi Uzondu, on the 10th of December 2024, in Lagos, within the jurisdiction of this Honourable Court, refused to accept Naira (Nigeria legal tender) by accepting the sum of $5700 ( Five Thousand Seven Hundred USD) as a means of payment for a purchase of a cartier diamond bracelet with serial number (12345678) and you, thereby , committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.”
He initially pleaded not guilty to the charge, leading to his full trial.
Subsequently, the prosecution presented its first witness, PW1, Owolabi Oyarekhua Jude, an operative of the EFCC.
Led in evidence by the prosecution counsel, H.U. Kofarnaisa, Jude told the court that “the Commission received intelligence on the activities of a jewelry company called Unlimited Jewellers Limited, “whose owner is one Uzondu Precious Chimaobi.
“The Company, which deals in jewelry at Atlantic Mall, Chevron Drive, Lekki, Lagos intentionally tags and sells its products in Dollars as against the CBN Act, 2007 ,which stipulates Naira as the only legal tender in Nigeria.”
Continuing, he added that “ Subsequently, a covert operation was carried out , where an undercover operative of the Commission disguised as a customer to purchase a Diamond Nail bracelet that was tagged $6000 and bought it for $5700.
Nonsense
ReplyDeleteHuh?? 😳😳😳
ReplyDeleteHuh?? 😳😳😳
ReplyDeleteNa mumu dey worry am.
ReplyDeleteSo what is the difference between what this guy is doing and what the Nigerian govt said it would do recently. They recently released a circular that nigerian crude will not be sold to Dangote in naira, thereby cancelling the naira for crude policy, abi the CBN Act is only applicable to private business owners?
ReplyDeleteyou are not informed o.that has been resolved by d FEC and it is now in full effect.
DeleteThat circular was released by the Dangote refinery itself, not the government. Try not to spread fake news.
DeleteThe government should potray an air of seriousness regarding these ekind of cases instead of making things tougher for people in small-medium scale businesses.
Which serious senior lawyer gets paid in Naira? Who is charging luxury hotels to court for their dollar charges? Which lawyer challenging or defending the last general election result was paid in Naira?
Serves him right, what's wrong with naira that he refused to collect, alaye wanted to cash out in dollars while selling in Nigeria.
ReplyDeleteHaa...
ReplyDeleteSouthern judges always letting the government use them to oppress their citizens
ReplyDeleteWhat did the northern judge do to the accused killers of Deborah? Nothing
And a judge is here ruling this
Don’t mind them. They even confiscated his diamond watch as if it’s a part of proceeds of fraud. Nigeria is just dead. Oppression everywhere
DeleteThis country Nigeria is alive and not dead, we want a better country but yet we don't want to do the right thing.
DeleteDon't mind them.
DeleteHmmmmmm
ReplyDeleteNa wa ooooooo
Good for him, imagine requesting American currency in Nigeria where we spend Naira, nonsense.
ReplyDeleteIf its a Northerner, will EFCC declare him wanted or let alone arrest.him?
DeleteHonestly, this is unfair.
ReplyDeleteHiaaaaaaaaa
ReplyDeleteNa waoooo
Hello iya Boys
He should have collected the Naira, but could have factored in the exchange rate into the selling price of the item.
ReplyDeleteExactly.
DeleteWhy not collect the Naira equivalent.
ReplyDeleteSee case when them dey go under cover for 😒
Shaking my head.
Shuo
ReplyDeleteBut isn't this a bit harsh?
ReplyDeleteIt is. I don't know what's to gain from making a convict of a job creator who may have been ignorant instead of other options but he did pleaad not guilty.
DeleteLolll. See face as if they stepped on it.
ReplyDeleteJustice for Oginika abi what is his name again?