Justice C.A. Obiozor of the Federal High Court in Benin City convicted a man named Osazee Imagbenikaro to jail for spraying naira notes, which is unlawful under Nigerian law.
Imagbenikaro was charged with two counts of spraying naira notes, which violated Section 21(3) of the Central Bank of Nigeria (Establishment) Act 2007.
He pleaded guilty to the charges at a court hearing on Thursday, May 16. The Economic and Financial Crimes Commission (EFCC) issued a statement on Friday outlining the investigation.
Imagbenikaro was apprehended during a burial service at Ogida Police Barracks in Benin City, Edo State. During the proceedings, the prosecution lawyer, Francis Jirbo, argued for a punishment that was appropriate under the law.
In contrast, the defence counsel asked for leniency, emphasising the defendant’s contrition. Justice Obiozor condemned Imagbenikaro to six months in prison or a N100,000 fine for each offence.
In addition, Imagbenikaro was obliged to offer a written commitment to continue good behaviour in the future. This case highlights the legal ramifications of spraying naira notes, reminding the people of the significance of following financial regulations in Nigeria.