Justice Rahman Oshodi of the Special Offences Court sitting in Ikeja, Lagos, on Friday convicted and sentenced Chukwuemeka Udezuka to 12 years imprisonment for stealing a total sum of N64.06 million from four victims under the guise of facilitating foreign exchange transactions.
The conviction followed the court’s finding that Udezuka was guilty of a four-count charge of stealing brought against him by the Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC).
The defendant, alongside his company, Mezu Connection Investment Limited, was accused of collecting funds from victims on the pretext of helping them convert naira to United States dollars at the official Central Bank of Nigeria (CBN) exchange rate.
According to the EFCC, after receiving the funds, Udezuka allegedly disappeared and became unreachable, leaving the victims unable to recover their money.
Udezuka was arraigned on January 31, 2024, on a four-count charge bordering on stealing, contrary to Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011.
One of the charges alleged that the defendant and his company dishonestly converted N28 million belonging to Chizoba Benson Chiegwu to their own use sometime in 2022 in Lagos.
Another count accused them of dishonestly converting N17.36 million belonging to Hojoli Augustine Okechukwu within the same period.
During the trial, prosecuting counsel, I.O. Daramola, called seven witnesses and tendered several exhibits, including the defendant’s extra-judicial statements, bank correspondence and account records. The documents were admitted in evidence by the court.
In his judgment, Justice Oshodi held that the prosecution successfully proved its case beyond reasonable doubt. The judge described the defendant’s conduct as premeditated and deserving of appropriate punishment.
Consequently, 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, expressing remorse for his actions and urging the court to give him a second chance. His counsel, Emeka Ezeobi, also appealed to the court to temper justice with mercy.
However, Justice Oshodi ruled that the gravity of the offence warranted a custodial sentence.
The court further ordered Udezuka to make full restitution to the four victims from the date of judgment and directed him to file an affidavit of compliance within 90 days.
In addition, Mezu Connection Investment Limited was fined N500,000 on each of the four counts, bringing the total fine imposed on the company to N2 million.
The conviction marks the conclusion of the EFCC’s prosecution of the case, which stemmed from allegations that the defendant fraudulently obtained and converted millions of naira entrusted to him for foreign exchange transactions.