EFCC charges man with refusing to accept Naira as legal tender.
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The Economic and Financial Crimes Commission, Lagos Zonal Command, on Wednesday charged one Preziosu Uzondu, with two counts in relation to his alleged refusal to accept naira as legal tender.
This was announced on Tuesday in a statement circulated on the commission's X account (formerly Twitter).
According to the prosecution, Uzondu refused to accept payment in naira, the official currency of Nigeria. Instead, he allegedly accepted the sum of $5,700 (five thousand seven hundred United States dollars) as payment for the purchase of a Carter diamond bracelet with serial number 12345678. His actions were allegedly in contravention of Section 20 of the Central Bank of Nigeria Act, 2007. The statement read: "The Lagos Zonal Branch of the Economic and Financial Crimes Commission, EFCC, on Wednesday, February 5, 2025, charged one Precious Chimaobi Uzondu with two counts of alleged refusal to accept naira as legal tender before a Federal High Court sitting in Owoeye.
English: "One of the charges is as follows: "You, Precious Chimaobi Uzondu, on December 10, 2024, at Lagos, within the jurisdiction of this Honourable Court, refused to accept Naira (legal tender of Nigeria) by accepting the sum of $5,700 for the purchase of a large number of dollars (1782) and offending $456. contrary to section 20 of the Central Bank of Nigeria Act, 2007.
"The accused pleaded "not guilty" to the charges when arraigned were read.
"The defendant's counsel, Jennifer Achinuagole, informed the court of a pending bail application and prayed the court to grant the same as her oral application.
"In response, Kofar Naisa served the court with an objection to the application and a written argument. She pleaded with the court to grant the same and dismiss the defendant's application.
"After hearing both sides, Justice Owoeye granted the defendant bail in the sum of N5 million, with two sureties in like sum. The sureties must have landed property in Lagos, which must be verified by the court, and also swear a declaration of means.
"The judge also ordered that the defendant be remanded to the Ikoyi Correctional Centre and remanded to April 8, 2025 for the commencement of trial."