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EFCC Arraigns Man for Rejecting Naira, Accepting Payment in Dollars
The Economic and Financial Crimes Commission (EFCC), Lagos Zonal Directorate, on Wednesday, arraigned one Precious Chimaobi Uzondu for allegedly refusing to accept the Naira as a legal tender.
According to a statement shared on the EFCC’s official X (formerly Twitter) account, Uzondu was charged before Justice A.O. Owoeye of the Federal High Court in Ikoyi, Lagos, on a two-count charge.
The prosecution alleged that on December 10, 2024, Uzondu declined to accept the Naira for a transaction and instead received $5,700 (Five Thousand Seven Hundred U.S. Dollars) as payment for a Cartier diamond bracelet with serial number 12345678. His actions were said to contravene Section 20 of the Central Bank of Nigeria Act, 2007.
The defendant pleaded not guilty to the charges.
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Following his plea, the prosecution counsel, Hannatu U. Kofar Naisa, requested a trial date and urged the court to remand Uzondu in a correctional facility.
However, the defense counsel, Jennifer Achinuagole, argued for bail, citing a pending application.
Justice Owoeye granted Uzondu bail in the sum of N5 million, with two sureties who must own landed property in Lagos and provide an affidavit of means.
The court ordered his remand at the Ikoyi Correctional Centre pending the fulfillment of bail conditions and adjourned the trial to April 8, 2025.
