EFCC Arraigns Man for Alleged Rejection of Naira in Bracelet Sale

By Dansu Peter  The Lagos Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) on Wednesday, February 5, 2025, arraigned...

By Dansu Peter 

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

According to the EFCC, Uzondu, on December 10, 2024, allegedly accepted $5,700 instead of the Naira for the sale of a Carter diamond bracelet with serial number 12345678. This, the prosecution argued, contravenes Section 20 of the Central Bank of Nigeria Act, 2007.  

The defendant pleaded not guilty to the charges. In response, EFCC counsel Hannatu U. KofarNaisa requested a trial date and urged the court to remand Uzondu in a correctional facility. However, defense counsel Jennifer Achinuagole informed the court of a pending bail application and sought its adoption as an oral plea.  

Opposing the request, KofarNaisa submitted a counter-affidavit and written address, urging the court to dismiss the bail application.  

After reviewing arguments from both sides, Justice Owoeye granted Uzondu bail set at N5 million, with two sureties of equal sum. The sureties must own verifiable landed properties in Lagos and swear an affidavit of means. Pending fulfillment of the bail conditions, the judge ordered Uzondu's remand at the Ikoyi Correctional Centre.  

The case has been adjourned to April 8, 2025, for trial commencement.