Court Sentences Enugu Man To Prison For Hawking New Naira Notes

One Onuigbo Chibuzor has been sentenced to prison over his involvement in currency racketeering in Enugu State.

Naija News understands that the suspect was arraigned by the Economic and Financial Crimes Commission (EFCC).

The anti-graft agency confirmed this in a publication via its official X handle, stating that Chibuzor was brought before Justice Mohammed Umar of the Federal High Court in Enugu on a single charge of hawking the newly printed naira notes by the Central Bank of Nigeria.

The charge against Chibuizo 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.”

The EFCC prosecutor, Ajobiewe Enitan, subsequently reviewed the facts of the case and tendered the defendant’s confessional statements and the ₦40,000 recovered as exhibits, which were admitted in evidence.

Chibuzor pleaded guilty to the charge.

At the court, the defence counsel, I. Davidson, pleaded for leniency, stating, “He (Chibuizor) is a first-time offender and he is a family man with three kids.”

In his ruling, however, Justice Umar convicted and sentenced Chibuzor to three months imprisonment with an option of a fine of ₦200,000.

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

Naija News understands that Chibuzor’s road to the correctional centre started when he was first arrested around Otigba in New Heaven, Enugu State, for selling ₦40,000 new naira notes for ₦60,000.