IKEJA, LAGOS — Justice Rahman Oshodi of the Special Offences Court in Ikeja, Lagos, has sentenced Chukwuemeka Udezuka to 12 years in prison for the theft of ₦64.06 million. The conviction concludes a high-profile prosecution brought by the Economic and Financial Crimes Commission (EFCC).

The Case Details

Udezuka, alongside his company, Mezu Connection Investment Limited, was found guilty on a four-count charge of stealing, contrary to the Criminal Law of Lagos State. The investigation revealed that between 2022 and 2024, the convict operated a fraudulent scheme targeting individuals seeking to exchange naira for U.S. dollars at official Central Bank of Nigeria (CBN) rates.

  • The Modus Operandi: Udezuka allegedly collected funds from his victims under the pretense of facilitating these foreign exchange transactions. Once the money was transferred, he ceased all communication and disappeared with the funds.

  • The Victims: The court heard that he defrauded four separate victims, including Chizoba Benson Chiegwu (₦28 million) and Hojoli Augustine Okechukwu (₦17.36 million).

The Verdict and Sentencing

After a trial during which the EFCC presented seven witnesses and extensive financial documentation, Justice Oshodi ruled that the prosecution had proven its case beyond reasonable doubt.

  • Sentence: The court handed down a three-year sentence for each of the four counts, to be served consecutively, resulting in a total of 12 years of imprisonment.

  • Corporate Penalty: Mezu Connection Investment Limited was fined ₦500,000 per count, totaling ₦2 million in fines for the company.

  • Restitution: In a significant move for the victims, the court ordered Udezuka to make full restitution of the stolen funds. He has been directed to file an affidavit of compliance with the court within 90 days.

Despite a plea for leniency from the defense counsel, Emeka Ezeobi, the judge maintained that the premeditated nature of the crime and the gravity of the offense warranted a firm custodial sentence.