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Court Jails Man Four Years for Refusal to Accept Naira As Legal Tender

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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 ( Five Thousand Seven Hundred USD) 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.

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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 admit the same in convicting the defendant.

 

Kofarnaisa, thereafter, tendered the defendant’s statement and other evidence to further prove his guilt and they were admitted 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( Fifty Thousand Naira) 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 ( Five Thousand Seven Hundred USD) as a means of payment for a purchase of a cartier diamond bracelet. He was charged to court and convicted.

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Independence Day: FG Declares October 1 Public Holiday

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By Yusuf Danjuma Yunusa

The Federal Government has declared Thursday, October 1, 2026, as public holiday to mark Nigeria’s 66th Independence Anniversary.

The Minister of Interior, Dr. Olubunmi Tunji-Ojo, announced the declaration on behalf of the Federal Government in a statement issued on Wednesday by Dr. Magdalene Ajani, Permanent Secretary, Ministry of Interior.

Tunji-Ojo congratulated Nigerians at home and abroad, describing the anniversary as an opportunity to reflect on the country’s journey since independence and its prospects for the future.

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He highlighted Nigeria’s human capital, natural resources and cultural diversity as key national assets, while stressing the importance of peace and stability to the country’s development.

The minister urged Nigerians to emulate the patriotism of the nation’s founding fathers and contribute to building a country that future generations would be proud of.

“As we celebrate 66 years of our independence, we should always remember that there is hope for our country and our diversity is our strength, and our collective determination remains the foundation upon which a stronger and more prosperous nation will be built,” he said.

Tunji-Ojo also called on citizens to use the celebration to promote unity, patriotism, peaceful coexistence and mutual respect.

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Dangote Sponsors Abuja Trade Fair, Features Refinery IPO

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From Left: Co-Founder/Group Executive, ABIS Group Dr. Illiyasu B. Gashinbaki; Deputy Vice President ACCI and former Minister of Foreign Affairs Dr. Aliyu Idi Hong; Cuban Ambassador to Nigeria Miriam Morales Palmero; Perm Sec Ministry of Special Duties and Intergovernmental Affairs Dr. Onwusoro Madura Ihemelandu; Dangote Representative of the Dangote Group Hashem Ahmed; President ACCI Chief Emeka Obegolu; Namibian High Commissioner to Nigeria Mr. Walde Natangwo Ndebashiya; and Mr. Abdulrazaq Sambajo of the Dangote Group, during a visit to the company pavilion at the 21st Abuja International Trade Fair...Tuesday.

 

Dangote Industries Limited (DIL), one of the sponsors of the 21st Abuja International Trade Fair, will spotlight the ongoing Initial Public Offering (IPO) of the Dangote Petroleum Refinery and Petrochemicals (DPRP) during the company’s Special Day.

The Dangote Special Day, scheduled for Friday October 2, will feature a high-level fireside and business interactive session bringing together representatives of Dangote Group, government, the organised private sector and business leaders to examine the transformative role of the Dangote Refinery in Nigeria’s economic development.

According to the company, the interactive session will provide prospective investors, entrepreneurs, business operators and other participants with an opportunity to engage directly with representatives of Dangote Group and gain a better understanding of the refinery’s ongoing IPO and its broader economic significance.

The session, themed “Dangote Refinery, Vision 2030, ACCI and the Economy,” will examine the refinery’s contribution to Nigeria’s energy security, industrialisation, trade, employment generation, taxation and economic growth.

Particular attention will be paid to how increased domestic refining capacity can reduce Nigeria’s dependence on imported petroleum products, conserve foreign exchange, strengthen local value chains and create new opportunities for businesses across the petroleum, petrochemical, logistics, manufacturing and services sectors.

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The IPO will also feature prominently in the discussions, with participants expected to explore how the public offer can broaden participation in the ownership of one of Africa’s most significant industrial assets, deepen Nigeria’s capital market and provide eligible investors with an opportunity to participate in the country’s ongoing industrial transformation.

The fireside session will bring together senior representatives of Dangote Group, the Abuja Chamber of Commerce and Industry (ACCI), the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), government and the wider private sector.

The company said the session would also provide an opportunity to examine Dangote Group’s Vision 2030 and its implications for industrialisation, job creation, local content development, technology transfer, investment and economic diversification.

Beyond the fireside discussion, visitors to the Trade Fair will have the opportunity to engage with the Dangote Group at its pavilion, where the company will showcase a range of products and businesses spanning cement, sugar, salt and seasoning, packaging and other sectors.

Dangote Group’s sustained participation and sponsorship of the Abuja International Trade Fair reflects its continued support for platforms that promote trade, investment, entrepreneurship and stronger linkages between the private sector and government.

The 21st Abuja International Trade Fair, organised by the Abuja Chamber of Commerce and Industry, is expected to bring together hundreds of exhibitors, businesses, investors, policymakers and members of the public, providing a platform for networking, market access, investment promotion and business-to-business engagement.

The company said it looks forward to welcoming participants to the Dangote Special Day and its pavilion to explore the Group’s products, investment opportunities and potential areas of business collaboration.

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15th Emir Of Kano Condemns Destruction Of Governor Yusuf’s Banners, Orders Immediate Replacement

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15th Emir of Kano, Alhaji Aminu Ado Bayero, has expressed displeasure over the destruction of banners bearing the images of the Kano State Governor, Alhaji Abba Kabir Yusuf.

The 15th Emir’s Chief Councillor, Alhaji Aminu Babba Dan’agundi, Sarkin Dawaki Babba, disclosed this while addressing journalists, saying that the Emir had already directed that the damaged banners be repaired.

According to him, 15th Emir Bayero stressed that the traditional institution must remain above partisan politics, saying, “We are fathers of the people, not politicians.” He therefore appealed to the Emir’s supporters and well-wishers to avoid bringing partisan political activities into the affairs of the traditional institution.

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The Sarkin Dawaki Babba also conveyed the 15th Emir’s appreciation to the thousands of supporters men and women, youths and elders who demonstrated their love and loyalty by complying with the government’s directive and accompanying the Emir on foot to his residence at the Nassarawa Palace, despite the heavy rainfall and strong winds.

He said the 15th Emir had no adequate words to express his gratitude to the people for their show of love, patience and solidarity, adding that His Highness prayed that Almighty Allah would reward them abundantly.

The 15th Emir also urged his supporters to continue with prayers, as is customary, for peace, stability and progress in Kano State and Nigeria, as well as abundant blessings and prosperity for the people.

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