Etiusen Stephen has been convicted by Justice M.A. Oyetenu of the Federal High Court in Uyo, Akwa Ibom State, for selling and abusing Naira notes during a party at Ken’s Court Luxury Apartments. Stephen pleaded guilty to charges of naira abuse under Section 21 of the Central Bank of Nigeria Act, leading to his conviction and forfeiture of recovered cash to the Federal Government.
Justice M.A.Oyetenu of the Federal High Court sitting in Uyo, Akwa Ibom State has convicted Etiusen Stephen for spraying Naira notes.
He was arraigned on July 19, 2024 on a two- count charge bordering on naira abuse, an offence that contravenes the provisions of Section 21 of the Central Bank of Nigeria (CBN) Act.
One of the charges reads: ‘That you Etiusen Stephen Udo on or about 27th June 2024 in Uyo, Akwa Ibom State within the jurisdiction of this Honorable court did sell Forty Thousand Naira notes (N40,000) only to one Edidiong Usoro and thereby Committed an offence contrary to Section 21 (4) of the Central Bank of Nigeria Act 2007 and punishable under Section 21 (1) of the same Act’.
When the charges were read to the defendant, he pleaded ‘guilty’ to both counts.
In view of his plea, prosecution counsel Joshua Abolarin prayed the court to convict and sentence the defendant accordingly and order a permanent forfeiture of the cash recovered from him to the Federal Government of Nigeria.
However, defence counsel, Udeme Tom prayed the court to give a lighter sentence stressing that the defendant was remorseful and a first-time offender.
After listening to both counsels, Justice Onyetenu convicted Etiusen, and ordered the forfeiture of the Forty Thousand Naira recovered from him to the Federal Government of Nigeria.
The convict was arrested at the Shelter Afrique area of Akwa Ibom State on Thursday June 27, 2024, alongside ten others while partying at Ken’s Court Luxury Apartments. He was caught spraying Naira notes and carelessly stepping on the same while dancing.
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