Justice Alexander Owoeye of the Federal High Court in Ikoyi, Lagos, on Tuesday, sentenced Uzondu Chimaobi to four years in prison for refusing to accept the Naira as a legal tender.

Chimaobi was arraigned by the EFCC’s Lagos Zonal Directorate 1 on February 5, 2025, on a two-count charge for rejecting the Naira during a transaction.

According to the charge, Chimaobi accepted $5,700 for the purchase of a Cartier diamond bracelet on December 10, 2024, in place of the Naira, violating Section 20 of the Central Bank of Nigeria Act, 2007.

He had initially pleaded not guilty, prompting a full trial before his eventual conviction.

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