Man Sentenced to 12 Years in Prison for Stealing N64 Million
A Special Offences Court sitting in Ikeja, Lagos, has sentenced a man, Chukwuemeka Udezuka, to 12 years imprisonment for stealing over ₦64 million from four victims under the guise of helping them convert naira to United States dollars at the official Central Bank of Nigeria (CBN) exchange rate.
Justice Rahman Oshodi delivered the judgment on Friday, June 5, 2026, 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).
According to the EFCC, Udezuka, alongside his company, Mezu Connection Investment Limited, collected a total of ₦64,060,000 from the victims in 2022 with promises of facilitating foreign exchange transactions. However, after receiving the funds, he allegedly became unreachable, leaving the victims unable to recover their money.
The defendant 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, EFCC prosecutor I.O. Daramola presented seven witnesses and tendered several documents, 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 successfully proved its case beyond reasonable doubt, describing the convict’s actions as “premeditated” and deserving of appropriate punishment.
The court sentenced Udezuka to three years imprisonment on each of the four counts, with the sentences to run consecutively, resulting in a total jail term of 12 years.
Although the convict pleaded for leniency and expressed remorse during allocutus, while his counsel, Emeka Ezeobi, urged the court to temper justice with mercy, the judge maintained that the gravity of the offence warranted a custodial sentence.
The court further ordered Udezuka to make full restitution to the four victims and file an affidavit of compliance within 90 days from the date of judgment.
In addition, Mezu Connection Investment Limited was fined ₦500,000 on each of the four counts, bringing the total fine imposed on the company to ₦2 million.
