Court In Lagos Jails Biz Man 5yrs For Refusing Naira, Demanding Dollars

Name: Court In Lagos Jails Biz Man 5yrs For Refusing Naira, Demanding Dollars
Uploaded: 2025-04-18T09:19:14+00:00
Duration: 8 min 9 s
Channel: osazuwaakonedo

osazuwaakonedo

4/18/2025

Court In Lagos Jails Biz Man 5yrs For Refusing Naira, Demanding Dollars
https://osazuwaakonedo.news/court-in-lagos-jails-biz-man-5yrs-for-refusing-naira-demanding-dollars/18/04/2025/
#EFCC #cbn #Dollar #Ikoyi #Lagos #Naira ©April 18th, 2025 ®April 18, 2025 8:19 am Federal High Court sitting in Lagos State has sentenced a businessman, Aniogor Godswill Obiajulu to five years imprisonment for refusing to accept Naira currency as a legal tender in exchange for the sales of Diamond bracelet, demanding the company customer’s to pay in dollars, and the court in its rulling on Thursday, ordered the Diamond Bracelet worth over $10,000 to be forfeited to the Federal Government, this, on the same vein, another Federal High Court in Ikoyi had on Tuesday sentenced a Diamond businessman, Uzondu Precious Chimaobi to four years imprisonment for also refusing to accept naira as means of payment from his customers, and the Court in Ikoyi also ordered the Cartier Diamond Wristwatch worth over $5,700 to be forfeited to the Federal Government. #OsazuwaAkonedo

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00:00Federal High Court sitting in Lagos State has sentenced a businessman,

00:04Hanyagor Godzwill Obiajulu, to five years imprisonment for refusing to accept Naira

00:09currency as a legal tender in exchange for the sales of diamond bracelet, demanding the company

00:15customers to pay in dollars, and the court in its ruling on Thursday, ordered the diamond bracelet

00:20worth over $10,000 to be forfeited to the federal government. This, on the same vein,

00:26another Federal High Court in Okoye had on Tuesday sentenced a diamond businessman,

00:32Uzondu Precious Chimirobe, to four years imprisonment for also refusing to accept Naira as means of

00:38payment from his customers, and the court in Okoye also ordered the Cartier diamond wristwatch

00:44worth over $5,700 to be forfeited to the federal government. Details of the news reports as

00:51presented by the Public Relations Unit of the Economic and Financial Crimes Commission,

00:56EFCC reads verbatim below. Lagos Court jails businessman, company for refusal to accept

01:03Naira as legal tender. Justice Akintayo Aluko of the Federal High Court sitting in Okoye,

01:10Lagos, on Thursday, April 17, 2025 convicted and sentenced a businessman, Hanyagor Godzwill Obiajulu

01:17and his company, I Spy CW to five years imprisonment for their refusal to accept the Naira as a legal tender.

01:24Obiajulu, alongside I Spy CW, was arraigned on Thursday on a two-count charge bordering on

01:32refusal to accept the Naira as a legal tender. Count 1 reads, that you, I Spy CW and Hanyagor Godzwill

01:40Obiajulu, on the 10th day of December, 2024 in Lagos, within the jurisdiction of this Honorable Court,

01:47refused to accept Naira, Nigeria's legal tender, by accepting the sum of US$10,000 as a means of

01:56payment for the purchase of one diamond clover bracelet and you thereby committed an offence

02:01contrary to unpunishable under Section 20, 1, of the Central Bank of Nigeria Act, 2007.

02:08Count 2 reads, that you, I Spy CW and Hanyagor Godzwill Obiajulu, on the 10th day of December,

02:172024 in Lagos, within the jurisdiction of this Honorable Court, directly retain the total sum

02:23of US$10,000, which some you reasonably ought to have known forms part of the proceeds of your

02:31unlawful activity to wit. Pricing and accepting USD as a means of payment for goods and services and

02:38you thereby committed an offence contrary to Section 18, 2, D, of the Money Laundering, Prevention and

02:44Prohibition Act, 2022 and punishable under Section 18, 3, of the same act. He pleaded, guilty, to the

02:54charges when they were read to him. In view of his plea, Prosecution Counsel, C.C. Occhese,

03:00tendered, in evidence, the payment receipt of the bracelet dated December 10, 2024, the defendant's

03:08statement dated December 27, 2024 and the diamond bracelet. Occhese also urged the court to convict

03:15the defendant as charged. Delivering judgment, Justice Alucco found the first and second defendants

03:22guilty and sentenced him to six months' imprisonment each, with an option of fine in the sum of

03:271,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000

03:57The two convicts bagged their imprisonment for pricing and accepting United States dollars

04:02as a means of payment for goods and services contrary to the Money Laundering Act.

04:07Court jails man four years for refusal to accept Naira as legal tender.

04:12Justice Alexander Owoi of the Federal High Court sitting in Akoi, Lagos, on Tuesday,

04:18April 15, 2025, convicted and sentenced one Muzondu.

04:23Precious Chimorobi to four years imprisonment for his refusal to accept the Naira as a legal tender.

04:30Chimorobi was arraigned by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission,

04:36EFCC, Owoloa Road, Akoi, Lagos, on February 5, 2025 on a two-count charge bordering on refusal

04:45to accept the Naira as a legal tender.

04:47One of the counts reads, that you, precious Chimorobi Uzondu, on 10 December 2024, in Lagos,

04:56within the jurisdiction of this Honorable Court, refused to accept Naira, Nigerian legal tender,

05:02by accepting the sum of $5,700, 5,700 USD, as a means of payment for a purchase of a Cartier

05:11diamond bracelet with serial number, 12,345,678, and you, thereby, committed an offence contrary

05:22to Section 20 of the Central Bank of Nigeria Act, 2007.

05:26He initially pleaded not guilty to the charge, leading to his full trial.

05:33Subsequently, the prosecution presented its first witness, PW1, Owolabi Oirekua Jude,

05:40an operative of the EFCC.

05:42Led in evidence by the Prosecution Counsel, H. U. Kofanesa, Jude told the court that,

05:48the commission received intelligence on the activities of a jewelry company called Unlimited

05:53Jewelers Limited, whose owner is one Uzondu Precious Chimorobi.

05:58The company, which deals in jewelry at Atlantic Mall, Chevron Drive, Leki, Lagos intentionally

06:04tags and sells its products in dollars as against the CBN Act, 2007, which stipulates Naira

06:12as the only legal tender in Nigeria.

06:15Continuing, he added that, subsequently, a covert operation was carried out, where an

06:20undercover operative of the commission disguised as a customer to purchase a diamond nail bracelet

06:26that was tagged $6,000 and bought it for $5,700.

06:31The company refused to receive Naira and demanded dollars as a means of payment.

06:37The payment was made and receipt was issued in dollars.

06:40The owner of the company was arrested and taken to the commission's office.

06:45However, at the resume sitting on April 14, 2025, the defendant opted to change his

06:51not guilty plea to guilty.

06:54Consequent upon his guilty plea, Kofanesa prayed the court to rely on the evidence earlier

07:00given by the investigating officer and admit the same in convicting the defendant.

07:05Kofanesa, thereafter, tendered the defendant's statement and other evidence to further prove

07:11his guilt and they were admitted by the court.

07:14Justice Owoai then adjourned till Tuesday, April 15, 2025 for ruling.

07:20Delivering judgment, they found the defendant guilty and gave him an option of fine of $50,000,

07:26on count one.

07:30The judge sentenced him to four years imprisonment, with an option of fine in the sum of $600,000

07:36on count two.

07:38His Cartier Diamond wristwatch was ordered forfeited to the federal government of Nigeria.

07:43The convict bagged his imprisonment when he refused to accept Naira by accepting the sum

07:48of $5,700,000, $5,700,000, as a means of payment for a purchase of a Cartier Diamond bracelet.

07:58He was charged to court and convicted.

08:03Ossas Owoakon Medley, bringing you the news in a more digital way.

Court In Lagos Jails Biz Man 5yrs For Refusing Naira, Demanding Dollars

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