Man jailed in Enugu for hawking new naira notes

The Economic and Financial Crimes Commission has secured the conviction and sentencing of one Onuigbo Chibuzor for currency racketeering in Enugu State.

According to a statement on Monday by the EFCC via X, Chibuzor was arraigned before Justice Mohammed Umar of the Federal High Court in Enugu on a one-count charge of hawking new naira notes issued by the Central Bank of Nigeria.

The charge read, “That you, Onuigbo Chibuzor on the 8th of June, 2024 at Enugu, Enugu State, within the jurisdiction of the Federal High Court of Nigeria, hawked the total sum of N40,000.00 mints in N200 denominations, issued by the Central Bank of Nigeria and thereby committed an offence contrary to Section 21 (4) of the Central Bank of Nigeria Act, 2007.”

Chibuzor pleaded guilty to the charge.

The EFCC prosecutor, Ajobiewe Enitan, subsequently reviewed the facts of the case and tendered the defendant’s confessional statements and the N40,000 recovered as exhibits, which were admitted in evidence.

In his allocutus, the defence counsel, I. Davidson, pleaded for leniency, stating, “He is a first-time offender and he is a family man with three kids.”

However, Justice Umar convicted and sentenced Chibuzor to three months imprisonment with an option of a fine of N200,000.

The court further ordered that the N40,000 new notes be returned to the Treasury Single Account of the Federal Government.

“Chibuzor’s road to the correctional centre began when he was arrested around Otigba in New Heaven, Enugu State for selling N40,000 new naira notes for N60,000,” the statement added.