EFCC arraigns bankers for currency racketeering in Enugu

The Economic and Financial Crimes Commission (EFCC) has arraigned two bankers, Ekpe Anayaoha Okoronkwo and Umeonuoha Onyinye, before Justice Mohammed Garba Umar of the Federal High Court, Enugu, for alleged currency racketeering involving ₦500,000 in newly-minted notes.

The arraignment took place on Thursday, December 12, 2024, following allegations that the defendants sold ₦500,000 in ₦200 denominations to one Husseini Ibrahim, violating Section 21(4) of the Central Bank of Nigeria Act, 2007.

Charges and Pleas “That you, Ekpe Anayaoha Okoronkwo and Umeonuoha Onyinye, sometime in October 2024 at Enugu, within the jurisdiction of the Federal High Court of Nigeria, did sell a total sum of Five Hundred Thousand Naira (₦500,000) mints in Two Hundred Naira Notes (₦200) denominations… contrary to Section 21(4) of the Central Bank of Nigeria Act, 2007 and punishable under Section 21(1) of the same Act.”

Okoronkwo pleaded guilty to the charge, while Onyinye pleaded not guilty.

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EFCC counsel Rotimi Ajobiewe requested a short adjournment to review the facts for sentencing Okoronkwo and to prepare for Onyinye’s trial.

Onyinye’s counsel, C.N. Agama, requested her remand at the EFCC’s custody pending a bail hearing.

Justice Umar adjourned the case to January 15, 2025, for Onyinye’s bail application and Okoronkwo’s conviction and sentencing. Both defendants were remanded at the Enugu State Correctional Facility.

The defendants were arrested on November 15, 2024, at their workplace on 18 Okpara Avenue, Enugu, after intelligence linked them to the illegal sale of ₦500,000 in mint notes. Investigations revealed the funds were sold in October 2024 within the Enugu metropolis.

The EFCC vowed to continue clamping down on currency racketeering in line with its mandate to protect Nigeria’s financial system.