Crime
Enugu Court Jails Man for Currency Racketeering
The Enugu Zonal Directorate of the Economic and Financial Crimes Commission (EFCC) has secured the conviction of Nwachukwu Ifeanyi for currency racketeering. Ifeanyi was sentenced by Justice Mohammed Garba Umar of the Federal High Court in Enugu State after pleading guilty to the charge.
Ifeanyi was arrested on February 9, 2024, at his shop located at 98 Douglas Road, Owerri, Imo State, where he was found selling new N500 notes totaling N500,000. The arrest followed credible intelligence linking him to currency racketeering activities.
The charge against him stated that he hawked N500,000 in N500 denominations issued by the Central Bank of Nigeria, an offense contrary to Section 21(4) of the Central Bank of Nigeria Act, 2007, and punishable under Section 21(1) of the same Act.
Upon his guilty plea, the prosecution presented evidence, including the recovered money and statements made by Ifeanyi. The defense counsel requested leniency, noting that Ifeanyi was a first-time offender who did not waste the court’s time.
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