Court jails man 12 years for stealing ₦64m in Lagos

The Special Offences Court sitting in Ikeja, Lagos, has sentenced Chukwuemeka Udezuka to 12 years’ imprisonment for stealing more than ₦64 million from victims under the guise of facilitating foreign exchange transactions.

Justice Rahman Oshodi delivered the judgment on Friday after finding Udezuka guilty on a four-count charge of stealing brought against him by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).

The convict, alongside his company, Mezu Connection Investment Limited, was accused of collecting a total of ₦64.06 million from four individuals on the promise of converting the funds to United States dollars at the official Central Bank of Nigeria exchange rate.

According to the EFCC, after receiving the money, Udezuka allegedly became unreachable, leaving the victims unable to recover their funds.

He was arraigned on January 31, 2024, on charges bordering on stealing, contrary to Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011.

During the trial, prosecuting counsel I.O. Daramola presented seven witnesses and tendered several exhibits, including the defendant’s extra-judicial statements, bank records and correspondence, which were admitted as evidence by the court.

In his judgment, Justice Oshodi held that the prosecution had established its case beyond reasonable doubt, describing the offence as premeditated and deserving of appropriate punishment.

The court sentenced Udezuka to three years’ imprisonment on each of the four counts. The sentences are to run consecutively, bringing the total jail term to 12 years.

During allocutus, the convict pleaded for leniency and expressed remorse for his actions, while his counsel, Emeka Ezeobi, urged the court to temper justice with mercy.

However, the judge ruled that the gravity of the offence warranted a custodial sentence.

The court also ordered Udezuka to make full restitution to the four victims and file an affidavit confirming compliance within 90 days of the judgment.

In addition, Mezu Connection Investment Limited was fined ₦500,000 on each of the four counts, amounting to a total fine of ₦2 million.