Court jails father of three for currency racketeering

A Federal High Court in Enugu has jailed a man for currency racketeering in the state.

The convict, Chibuzor Onuigbo, was charged with currency racketeering, according to a statement by the Economic and Financial Crimes Commission (EFCC) on Monday.

Mr Onuigbo was being prosecuted by the Enugu Zonal Directorate of the EFCC.

The EFCC told the court that Mr Onuigbo was arrested earlier in June around Otigba, in New Haven, Enugu State for selling N40,000 new Naira notes for N60,000.

The count

The one-count charge reads: “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, mints N200 denominations, issued by the Central Bank of Nigeria (CBN) and thereby committed an offence contrary to Section 21 (4) of the CBN Act, 2007 and punishable under Section 21 (1) of the same Act”.

Mr Onuigbo pleaded guilty to the charge, according to the statement.

After his guilty plea, counsel to the EFCC Counsel, Ajobiewe Rotimi Enitan, tendered the confessional statements of the defendant and the sum of N40,000 which were admitted in evidence.

In a plea of allocutus, counsel to Mr Onuigbo, I. Davidson, prayed the court to temper justice with mercy, adding that “he is a first-time offender and he is a family man with three kids”.

Judgment

Delivering judgment, the judge, Justice Umar convicted and sentenced Mr Onuigbo to three months imprisonment with an option of a fine of N200,000.

The court further ordered that the N40,000 be returned to the Treasury Single Account of the federal government.

The statement did not indicate when the defendant, now a convict, was arraigned and when he was sentenced.