• About us
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 28, 2025
  • Login
NewsPeg Magazine logo
  • Home
  • News
    • World
    • Business
    • Politics
  • Technology
  • Entertainment
    • Sports
  • Lifestyle
    • Health
No Result
View All Result
  • Home
  • News
    • World
    • Business
    • Politics
  • Technology
  • Entertainment
    • Sports
  • Lifestyle
    • Health
No Result
View All Result
NewsPeg Magazine logo
No Result
View All Result
Home EFCC

Lagos Court Sentences Businessman And His Company To Prison For Rejecting The Naira As A Legal Tender

Admin by Admin
April 17, 2025
in EFCC
Reading Time: 2 mins read
0
Share on FacebookShare on TwitterShare on Whatsapp

By Nkechi Eze

Justice Akintayo Aluko of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, April 17,  2025 convicted and sentenced a businessman, Aniogor Godswill Obiajulu and his company, ICE BY CW to five years imprisonment for their refusal to accept the Naira as a legal tender

Dele Oyewale the commission’s spokesperson in a signed statement disclosed that Obiajulu, alongside ICE BY CW, was arraigned  on Thursday on a two-count charge bordering on refusal to accept the Naira as a legal tender.

Count one reads: “That you, ICE BY CW and Aniogor Godswill Obiajulu, on the 10th day of December, 2024 in Lagos, within the jurisdiction of this Honorable Court, refused to accept Naira (Nigeria’s legal tender) by accepting the sum of $10,000 (Ten Thousand US Dollars) as a means of payment for the purchase of one diamond Clover bracelet and you thereby committed an offence contrary to and punishable under Section 20(1) of the Central Bank of Nigeria Act, 2007.”

Count two reads: “That you, ICE BY CW and Aniogor Godswill Obiajulu, on the 10th day of December, 2024 in Lagos, within the jurisdiction of this Honorable Court, directly retained the total sum of $10,000 (Ten Thousand US Dollars), which sum you reasonably ought to have known forms part of the proceeds of your unlawful activity to wit: pricing and accepting USD as a means of payment for goods and services and you thereby committed an offence contrary to Section 18 (2) (d) of the Money Laundering (Prevention and Prohibition) Act, 2022 and punishable under Section 18 (3) of the same Act.”

He pleaded “guilty” to the charges when they were read to him

In view of his plea,  prosecution counsel, C.C. Okezie, tendered, in evidence, the payment receipt of the bracelet dated December 10, 2024, the defendant’s statement dated December 27, 2024 and the Diamond bracelet.

Okezie also urged the court to convict the defendant as charged.

Delivering judgment, Justice Aluko found the first and second defendants guilty and sentenced them to six months imprisonment each, with an option of fine in the sum of N50,000 (Fifty Thousand Naira) on count one.

The Judge sentenced the second defendant to four years imprisonment, with an option of fine in the sum of N1,000,000.00 (One Million Naira) on count two.

Also, the Judge pronounced a fine of N1,000, 000.00 (One Million Naira) on the first defendant on count two.

The Diamond Clover bracelet was ordered forfeited to the Federal Government of Nigeria.

 The two convicts bagged  their imprisonment for pricing and accepting United States Dollars  as a means of payment for goods and services contrary to  the money laundering  Act.  

ShareTweetSend
Previous Post

Retired CP Alamutu Appointed Southwest Zonal Director of Centre for Small Arms & Light Weapons

Next Post

FRSC Urges Motorists to Adhere to Traffic Rules During Easter Celebration

Admin

Admin

Related Posts

EFCC Arraigns Man Over Alleged N9m Petroleum Investment Fraud in Maiduguri
EFCC

EFCC Arraigns Man Over Alleged N9m Petroleum Investment Fraud in Maiduguri

September 23, 2025
Ex-Legislative Aide Jailed Eight Years for N120.5m Job Scam in Abuja
EFCC

Ex-Legislative Aide Jailed Eight Years for N120.5m Job Scam in Abuja

September 23, 2025
South South Development Commission Commends EFCC Chairman Olukoyede on Reforms, Seeks Collaboration
EFCC

South South Development Commission Commends EFCC Chairman Olukoyede on Reforms, Seeks Collaboration

September 11, 2025
Next Post

FRSC Urges Motorists to Adhere to Traffic Rules During Easter Celebration

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Editor's Choice

ICPC, Master Agent Show Flag Off Nationwide School Debate to Entrench Anti-Corruption Values

ICPC, Master Agent Show Flag Off Nationwide School Debate to Entrench Anti-Corruption Values

September 25, 2025
Troops Recover Rifle, Ammunition After Fierce Encounter with Bandits in Plateau

Troops Recover Rifle, Ammunition After Fierce Encounter with Bandits in Plateau

September 25, 2025
  • Trending
  • Comments
  • Latest
Imo Monarch Raises Alarm as 22-Year-Old Abandoned Road Threatens to Cut Off Okwuohia Community

Imo Monarch Raises Alarm as 22-Year-Old Abandoned Road Threatens to Cut Off Okwuohia Community

August 26, 2025
FG Rescues 11 Nigerian Miners Stranded in Central African Republic, Brings Them Home Safely

FG Rescues 11 Nigerian Miners Stranded in Central African Republic, Brings Them Home Safely

August 15, 2025
NIMC Trains Corps Members for Nationwide NIN Ward Enrollment Initiative

NIMC Trains Corps Members for Nationwide NIN Ward Enrollment Initiative

June 24, 2025

NAVY CAPTAIN A. MNGUVE UNVEILS THREE INSPIRATIONAL BOOKS IN LITERARY TRIUMPH

May 7, 2025

MEDIA FOUNDATION SEEKS UPGRADED DIGITAL INFRASTRUCTURE IN NIGERIA

4

Easter/Eid-el-Fitr: FRSC Records Massive Reduction in Road Crashes.

2
GSAI TRAINS JOURNALISTS TO INTENSIFY ENGAGEMENTS REVOLVING AROUND INVOLVEMENT OF WOMEN IN POLITICS AND GOVERNANCE

GSAI TRAINS JOURNALISTS TO INTENSIFY ENGAGEMENTS REVOLVING AROUND INVOLVEMENT OF WOMEN IN POLITICS AND GOVERNANCE

2

IDENTIFYING BARRIERS TO WOMEN’S POOR REMUNERATIONS, IT’S EFFECTS ON HOUSEHOLD.  LACK OF INCLUSIVE LABOUR LAWS?

2
ICPC, Master Agent Show Flag Off Nationwide School Debate to Entrench Anti-Corruption Values

ICPC, Master Agent Show Flag Off Nationwide School Debate to Entrench Anti-Corruption Values

September 25, 2025
Troops Recover Rifle, Ammunition After Fierce Encounter with Bandits in Plateau

Troops Recover Rifle, Ammunition After Fierce Encounter with Bandits in Plateau

September 25, 2025

EFCC Rallies Media and Civil Society, Declares Collaboration the Key Weapon Against Corruption

September 25, 2025
IGP Gives New Order In Rivers State

IGP Egbetokun Flags Off Training on Criminal Database Systems, Declares New Era in Nigerian Policing

September 25, 2025
NewsPeg Magazine

Newspeg is a General interest Magazine conceived by Nigerian Media practitioners of like minds across ethnic and geo-political divides of the country, for the purpose of creating uniqueness in Magazine reporting in Nigeria and repositioning the country for the needed growth.

Follow Us

  • About us
  • Advertise
  • Privacy & Policy
  • Contact

© 2024 Newspeg magazine - powered by Vecrit.

No Result
View All Result
  • Home
  • News
    • Business
    • World
  • Technology
  • Entertainment
  • Lifestyle
  • Editorial
  • Columns
  • More

© 2024 Newspeg magazine - powered by Vecrit.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In