The Economic and Financial Crimes Commission (EFCC) secured the conviction of Chukwuemeka Udezuka, who was sentenced to 12 years in prison by Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, on Friday. Udezuka was found guilty of stealing a total of N64.06 million from four victims under the pretence of facilitating foreign exchange transactions.
Details of the Conviction
The court determined that Udezuka, along with his company Mezu Connection Investment Limited, had collected funds from victims by promising to convert naira to United States dollars at the official Central Bank of Nigeria (CBN) exchange rate. After receiving the money, Udezuka allegedly disappeared and became unreachable, leaving the victims unable to recover their funds.
Charges and Trial
Udezuka was arraigned on January 31, 2024, on a four-count charge of stealing, contrary to Sections 278 and 285(1) of the Criminal Law of Lagos State, 2011. One charge alleged that he and his company dishonestly converted N28 million belonging to Chizoba Benson Chiegwu to their own use in 2022. 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 presented seven witnesses and several exhibits, including the defendant’s extra-judicial statements, bank correspondence, and account records, which were admitted as evidence.
Judgment and Sentence
In his judgment, Justice Oshodi held that the prosecution had proven its case beyond reasonable doubt. He described Udezuka’s conduct as premeditated and deserving of 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 of 12 years.
Plea for Leniency and Restitution Order
During allocutus, the convict pleaded for leniency, expressing remorse and asking for a second chance. His counsel, Emeka Ezeobi, also appealed for 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 and directed him to file an affidavit of compliance within 90 days. Additionally, Mezu Connection Investment Limited was fined N500,000 on each count, totaling N2 million.
This conviction concludes the EFCC’s prosecution of the case, which originated from allegations that the defendant fraudulently obtained and converted millions of naira entrusted to him for foreign exchange transactions.
