In a fresh crackdown on financial infractions, the Economic and Financial Crimes Commission (EFCC) has filed a two-count charge against a young man, Precious Uzondu, for allegedly refusing to accept the Naira as a legal tender.
The news was made public through a post on the official X handle of Nigerian Stories, which highlighted the urgency and seriousness of the case. The EFCC’s decision to prosecute Uzondu underscores the government’s resolve to enforce financial regulations and uphold the integrity of Nigeria’s currency.
While details of the incident remain scant, the charges against Uzondu suggest a violation of Section 20 of the Central Bank of Nigeria (CBN) Act, which mandates that the Naira remains the sole legal tender for transactions within the country. The law criminalizes the rejection of the Naira in favor of foreign currencies or alternative payment methods when offered in legitimate transactions.
This development has sparked widespread debate among Nigerians, with some supporting the EFCC’s move as necessary to protect the country’s monetary system, while others argue that the government should focus on pressing economic issues such as inflation and the devaluation of the Naira.
As the case unfolds, all eyes will be on the EFCC’s next steps and the legal proceedings that could set a precedent for similar infractions in the future.
PIONEER NEWS 