A recent surge in the arraignment of individuals for naira abuse by the Economic and Financial Crimes Commission has triggered discussions within the legal community on whether currency misuse qualifies as an economic and financial offense, ONOZURE DANIA reports
The Economic and Financial Crimes Commission presented Idris Olanrewaju, popularly known as Bobrisky, for naira abuse on April 5, 2024. Bobrisky pleaded guilty and was subsequently sentenced to six months imprisonment without the option of a fine by Justice Abimbola Awogboro of the Federal High Court in Lagos.
Following Bobrisky’s case, businessman Pascal Okechukwu, also known as Cubana Chief Priest, faced similar charges on April 17, 2024. He pleaded not guilty and was granted bail amounting to N10m.
In a separate incident, Nollywood actress Oluwadarasimi Omoseyin was arraigned before Justice Chukwuejekwu Aneke of the Federal High Court in Lagos on February 13, 2023, for tampering with N100,000 issued by the Central Bank of Nigeria.
She pleaded not guilty and was granted bail of N5m on February 15, 2023. Subsequently, on February 1, 2024, she was convicted and sentenced to six months imprisonment.
Questioning the EFCC’s authority to prosecute naira abusers, former Chairman of the National Human Rights Commission, Prof. Chidi Odinkalu, contended that the agency lacks the jurisdiction to pursue individuals for naira abuse.
Similarly, Chief Solo Akuma (SAN) argued that naira abuse, as outlined in the CBN Act, does not constitute an economic or financial crime within the EFCC’s purview.
Former President of the Nigerian Bar Association, Dr. Olisa Agbakoba (SAN), echoed these sentiments, citing a Supreme Court ruling that restricts the EFCC’s prosecutorial powers to specific offenses detailed in the EFCC Act.
According to legal expert Christmas Akpodiete, the EFCC’s involvement in naira abuse cases contradicts a precedent set by the Nigerian Supreme Court, which reserves prosecution authority for the police under the CBN Act.
Expressing a similar stance, Chairman of the Nigerian Bar Association, Ikeja branch, Mr. Oluseyi Olawumi, emphasized that only the Nigeria police possess the mandate to prosecute individuals for naira abuse.
Evaristus Asuzu concurred, suggesting that the EFCC should focus on more significant financial crimes rather than minor incidents like naira abuse at events.
Contrary to these views, Yusuf Nurudeen argued that the EFCC is empowered to prosecute naira abusers within the bounds of the law, citing the Attorney General of the Federation’s ability to delegate such responsibilities to the anti-graft agency.