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2 days ago
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- The Federal High Court sitting successful Ikoyi, Lagos, has sentenced a jewelry trader to 4 years' imprisonment for refusing to judge naira
- Justice Alexander Owoeye gave Uzondu Precious Chimaobi an enactment of a good successful the sum of N600,000 connected number two
- The tribunal ordered the forfeiture of the Cartier Diamond wristwatch to the Federal Government of Nigeria
Legit.ng journalist, Adekunle Dada, has implicit 8 years of acquisition covering metro, authorities policy, and planetary issues
Ikoyi, Lagos state - A Nigerian man, Uzondu Precious Chimaobi, has been sentenced to 4 years' imprisonment implicit his refusal to judge the Naira arsenic ineligible tender.
Justice Alexander Owoeye of the Federal High Court sitting successful Ikoyi, Lagos, gave the judgement connected Tuesday, April 15, 2025.
Source: Twitter
The Economic and Financial Crimes Commission (EFCC) arraigned Uzondu successful tribunal connected February 5, 2025 a two-count complaint bordering connected refusal to judge the Naira arsenic a ineligible tender.
Uzondu is the proprietor of a jewelry institution called Unlimited Jewellers Limited successful the Lekki country of Lagos.
The EFCC said Uzondu committed the offence connected the 10th of December 2024 by accepting the sum of $5700 for the outgo of a Cartier diamond bracelet with serial number.
This was contained successful a connection issued by the EFCC via his X grip @officialEFCC connected Tuesday, April 15, 2025.
The authoritative and EFCC operative, Owolabi Oyarekhua Jude, told the tribunal that the Commission received an quality study connected the activities of the jewelry company.
“The Company, which deals successful jewelry astatine Atlantic Mall, Chevron Drive, Lekki, Lagos, intentionally tags and sells its products successful Dollars arsenic against the CBN Act, 2007, which stipulates Naira arsenic the lone ineligible tender successful Nigeria.”“Subsequently, a covert cognition was carried out, wherever an undercover operative of the Commission disguised arsenic a lawsuit purchased a Diamond Nail bracelet that was tagged $6000 and bought it for $5700. “The institution refused to person Naira and demanded Dollars arsenic a means of payment. The outgo was made, and a receipt was issued successful Dollars. The proprietor of the institution was arrested and taken to the Commission’s "The Judge sentenced him to 4 years imprisonment, with an enactment of a good successful the sum of N600,000 connected number two.
Uzondu's Cartier Diamond wristwatch was ordered forfeited to the Federal Government of Nigeria.
Nigerian gets 6 months imprisonment for wealth laundering
Legit.ng also reported that Okorie Sylvanus Sunday was sentenced to six months imprisonment aft being convicted of wealth laundering by the Federal High Court, Ikoyi.
The Nigerian was arrested astatine Murtala Muhammed International Airport with $578,000, portion of which was concealed successful a pick battalion and included counterfeit currency.
His blameworthy plea to 2 charges concluded the case, showcasing the Nigerian authorities’ committedness to tackling fiscal crimes.
EFCC arrests 133 suspects implicit Ponzi strategy academy
Meanwhile, Legit.ng reported that EFCC operatives person arrested 133 suspects successful Abuja.
The suspects were arrested successful transportation with a Ponzi Scheme Academy where gullible young Nigerians were trained successful the scheme.
The anti-graft bureau said the Ponzi Scheme Academy is named Q University (a.k.a Q-Net) for brainwashing young Nigerians that they would postgraduate into the league of billionaires.
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Source: Legit.ng
