The Akwa Ibom Zonal Command of the Economic and Financial Crimes Commission has secured the conviction and sentencing of one Etiusen Stephen for spraying naira notes before Justice M.A.Oyetenu of the Federal High Court sitting in Uyo, Akwa Ibom State.
This was disclosed in a statement posted on X.com on Wednesday. Stephen was arraigned on July 19, 2024, on a two-count charge of naira abuse, which violates Section 21 of the Central Bank of Nigeria Act.
According to the statement, the charges read, “That you Etiusen Stephen Udo on or about 27th June 2024 in Uyo, Akwa Ibom State within the jurisdiction of this Honorable court did sell Forty Thousand Naira notes poOnly to one Edidiong Usoro and thereby Committed an offence contrary to Section 21 (4) of the Central Bank of Nigeria Act 2007 and punishable under Section 21 (1) of the same Act’.” When the charges were read to the defendant, he pleaded ‘guilty’ to both counts. Related News Four internet fraudsters bag jail terms in Kaduna EFCC arrests Kano banker, three others for mutilating naira notes Edo bizman bags seven years jail term for N12.
5m fraud “In view of his plea, prosecution counsel, Joshua Abolarin, prayed the court to convict and sentence the defendant accordingly and order a permanent forfeiture of the cash recovered from him to the Federal Government of Nigeria. “However, defence counsel Udeme Tom prayed the court to give a lighter sentence stressing that the defendant was remorseful and a first-time .