NewStats: 3,261,665 , 8,174,694 topics. Date: Friday, 30 May 2025 at 02:30 AM f1y2a

Justice Alexander Owoeye of the Federal High Court sitting in Ikoyi, Lagos, on Tuesday, April 15, 2025, convicted and sentenced one Uzondu Precious Chimaobi to four years imprisonment for his refusal to accept the Naira as a legal tender.

Chimaobi was arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, Awolowo Road, Ikoyi, Lagos, on February 5, 2025 on a two-count charge bordering on refusal to accept the Naira as a legal tender.

One of the counts reads: “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 legal tender) by accepting the sum of $5700 as a means of payment for a purchase of a cartier diamond bracelet with serial number (12345678) and you, thereby , committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.”

He initially pleaded not guilty to the charge, leading to his full trial.

Subsequently, the prosecution presented its first witness, PW1, Owolabi Oyarekhua Jude, an operative of the EFCC.

Led in evidence by the prosecution counsel, H.U. Kofarnaisa, Jude told the court that “the Commission received intelligence on the activities of a jewelry company called Unlimited Jewellers Limited, “whose owner is one Uzondu Precious Chimaobi.

“The Company, which deals in jewelry at Atlantic Mall, Chevron Drive, Lekki, Lagos intentionally tags and sells its products in Dollars as against the CBN Act, 2007 ,which stipulates Naira as the only legal tender in Nigeria.”

Continuing, he added that “Subsequently, a covert operation was carried out, where an undercover operative of the Commission disguised as a customer to purchase a Diamond Nail bracelet that was tagged $6000 and bought it for $5700.


“The company refused to receive Naira and demanded Dollars as a means of payment. The payment was made and receipt was issued in Dollars . The owner of the company was arrested and taken to the Commission’s office.”

However, at the resumed sitting on April 14, 2025, the defendant opted to change his “not guilty” plea to “guilty.
Consequent upon his guilty plea, Kofarnaisa, prayed the court to rely on the evidence earlier given by the investigating officer, and it the same in convicting the defendant.

Kofarnaisa, thereafter, tendered the defendant’s statement and other evidence to further prove his guilt and they were itted by the court.

Justice Owoeye then adjourned till Tuesday, April 15, 2025 for ruling.

Delivering judgment, they found the defendant guilty and gave him an option of fine of N50,000 on count one.

The Judge sentenced him to four years imprisonment, with an option of fine in the sum of N600,000 on count two.

His Cartier Diamond wristwatch was ordered forfeited to the Federal Government of Nigeria.

The convict bagged his imprisonment when he refused to accept Naira by accepting the sum of $5700 as a means of payment for a purchase of a cartier diamond bracelet. He was charged to court and convicted.

https://guardian.ng/joe-komolafe/chimaobi-gets-four-years-jail-for-refusal-to-accept-naira-as-legal-tender/

Thank Goodness, our Justice system is no longer tolerating nonsense, it is finally waking up. If I were the Judge, he would get 12years with an option of hard labor. Nonsense guy refusing to accept Naira as legal tender, see head like table tennis. If you loved dollars that much, why not relocate to the US. Anyone who lacks home training, Nigeria is ready to give you one.



After God, na Tinubu 💪 God bless Nigeria

Well deserved.

PressMyButton:
Thank Goodness, our Justice system is no longer tolerating nonsense, it is finally waking up. If I were the Judge, he would get 12years with an option of hard labor. Look at this nonsense guy refusing to accept Naira as legal tender. If you loved dollars that much, why not relocate to the US. Anyone who lacks home training, Nigeria is ready to give you one.



After God, na Tinubu 💪 God bless Nigeria

Lol.. 12 years with an option of hard labor, you're harsh o. Just give him 12 hard knocks to reset his brain. It seems CBN and EFCC are finally out for these people. Pls, also go after schools and hotels.


-Kiss the truth!

And the politicians reject the legal tender Naira and accept dollars.


Who still value Naira that keeps floating around with no direction?


The injustice in this country reeks...

Fast and harsh judgements for minor offences committed by ordinary citizens while the affluent politicians never get convicted for committing fraud and embezzlement 100 times worse than this. It is so unfortunate.

If he was fulani he would be awarded compensation and presidential handshake. Smh

Wonderfyl

They should change it to life. See as muscles full im head. Vapid skull

Good one..

They should have made it life in prison primitive country with a useless judiciary ...our politicians steal public funds in dollars, infact we all saw APC chairman gandollar collecting bribe in dollars as a governor nothing happened to him rather he was rewarded with chairmanship of the ruling party....however the guy should have converted the prize money to naira according to the rate of dollar to customers who prefer to pay in naira, again FG is selling crude oil in dollars even to domestic refineries, it was only recently they were able to sell to dangote and co in naira and they're still complaining about it.... selective justice is what we have in Nigeria, he paid six 600k as fine and is already out sha...I know the guy

Four years for refusing naira is an oppressive judgement. Maximum should not be more than one month in jail. And that should even be for a repeat offender.

It's simple, change price tag daily due to naira volatility or keep your calculator handy for sharp conversion 🤷.

is there not an option for bail?

i am sure this is a lie..... the guy fit dey him house dey chat while they post trash online


it's a minor offence

Nigerians are constantly on the lookout for even the smallest chance to defraud one another.

Terrible people!

https://www.newdawnngr.com/2022/06/07/apc-convention-dollar-rain-how-tinubu-paid-ogun-delegates-25000-adamawa-10000/

Is this also a promoted post? We have seen it here before na

The punishment is too lenient. In some countries, he won't even have the option of fine. It's an economic crime

PressMyButton:


https://guardian.ng/joe-komolafe/chimaobi-gets-four-years-jail-for-refusal-to-accept-naira-as-legal-tender/

Naira no be him mate na

Him get option of fine 650K.

..

Old news and he was clearly given the option of a fine of 650k

He buys these stuff in dollars probably wanting to reduce his dollar exchange hassles hence he prefers to be paid in USD

PressMyButton:
Thank Goodness, our Justice system is no longer tolerating nonsense, it is finally waking up. If I were the Judge, he would get 12years with an option of hard labor. Nonsense guy refusing to accept Naira as legal tender, see head like table tennis. If you loved dollars that much, why not relocate to the US. Anyone who lacks home training, Nigeria is ready to give you one. Calm down he buys his goods from abroad in dollars and is calculating his profits in dollars ,the only issue here is he could have converted the prize money with it naira equivalent ,what of gandollar we all saw taking bribe in dollars



After God, na Tinubu 💪 God bless Nigeria

In short he was fined N650K.
A huge sum of money but NOT 4 years in Nigerian jail

Good for him.

Yeye de smell. Meanwhile some schools accept payments only in foreign currency, airlines charge you in dollars and politicians bribe themselves in dollars as well. Monkey Republic

This is business they say. When business has taken over you, you will misbehave

Cash out by EFCC operative.

No be Nigerian government seize the wrist watch of around 10 million Naira ooo. Na EFCC guys
The watch will be auctioned to their own guys cheap cheap.


Just that you can't win government agencies in court once there is a section of the law that goes against you, and that they can quote, plus the operative that was used against the shop would have recorded hard evidence against them.