A verdict has been issued by Justice M. A. Oyetenu of the Federal High Court in Uyo, the capital of Akwa Ibom State, against Etiusen Stephen for dispersing naira notes.
On July 19, 2024, the accused was charged with two offenses related to the mishandling of naira, as reported by NewsNow.
The Economic and Financial Crimes Commission, EFCC, arraigned him for violating Section 21 of the Central Bank of Nigeria Act.
One of the charges stated: “That on June 27, 2024, in Uyo, Akwa Ibom State, you, Etiusen Stephen Udo, sold forty thousand naira notes (N40,000.00) to Edidiong Usoro, an act in contravention of Section 21 (4) of the Central Bank of Nigeria Act 2007, punishable under Section 21 (1) of the same Act.”
Upon hearing the charges, the defendant pleaded ‘guilty’ to both accusations.
The prosecution, represented by Joshua Abolarin, requested the court to convict and impose a sentence on the defendant, as well as order the permanent confiscation of the seized cash to the Federal Government of Nigeria.
In contrast, the defense counsel, Udeme Tom, appealed for a more lenient sentence, emphasizing the defendant’s regret and lack of prior convictions.
After considering arguments from both sides, Justice Onyetenu convicted Etiusen and mandated the forfeiture of the N40,000 retrieved from him to the Federal Government of Nigeria.
The arrest of the convict, along with ten others, took place at the Shelter Afrique area in Akwa Ibom State on Thursday, June 27, 2024, while they were celebrating at Ken’s Court Luxury Apartments.
According to EFCC, he was apprehended for sprinkling naira notes and negligently stepping on them during his dance.