On February 5, 2025, the Economic and Financial Crimes Commission (EFCC) arraigned Precious Chimaobi Uzondu before the Federal High Court in Ikoyi, Lagos.

Uzondu is facing two charges related to allegedly refusing to accept Naira as payment for a Cartier diamond bracelet. The case was heard by Justice A.O. Owoeye.

The EFCC has accused Uzondu of selling the luxury item for U.S. dollars, violating the legal requirement to accept the Naira as the official currency for transactions in Nigeria. The court proceedings continue as the case unfolds.

“That you, Precious  Chimaobi Uzondu, on the 10th of December 2024, in Lagos, within the jurisdiction of this Honourable Court, refused to accept Naira (Nigeria’s legal tender) by accepting the sum of $5700 ( Five Thousand Seven Hundred USD) as a means of payment for a purchase of a Carter diamond bracelet with serial number (12345678) and you thereby committed an offence contrary to Section 20 of the Central Bank of Nigeria Act, 2007.”