The Economic and Financial Crimes Commission (EFCC) has arraigned Precious Chimaobi Uzondu before the Federal High Court in Ikoyi, Lagos, on a two-count charge for allegedly refusing to accept the naira as legal tender.
Uzondu was brought before Justice A.O. Owoeye of the Federal High Court after being accused of accepting $5,700 instead of naira as payment for a Carter diamond bracelet on December 10, 2024.
One of the charges read:
“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’s legal tender) by accepting the sum of $5700 as a means of payment for a Carter diamond bracelet with serial number (12345678) and you thereby committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.”
The defendant pleaded “not guilty” when the charges were read in court.
Following his plea, EFCC prosecution counsel, Hannatu U. KofarNaisa, requested a trial date and prayed that Uzondu be remanded in a correctional facility.
However, the defence counsel, Jennifer Achinuagole, informed the court of a pending bail application, urging the judge to adopt it as an oral application.
KofarNaisa opposed the request, citing a counter-affidavit and a written address, which she urged the court to consider in rejecting the defendant’s bail application.
After listening to arguments from both sides, Justice Owoeye granted Uzondu bail in the sum of ₦5 million, with two sureties in like sum.
The judge specified that the sureties must own landed properties in Lagos, which must be verified by the court, and they must also swear an affidavit of means.
Until the bail conditions are met, the judge ordered Uzondu to be remanded at the Ikoyi Correctional Centre and adjourned the case until April 8, 2025, for the commencement of trial.
