EFCC charges man with refusing to accept Naira as legal tender

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."