How Bureau de Change operator exchanges N1.7m with fake dollars in Lagos

Usman Nafada, a Bureau de Change operator, has connived with an accomplice to swindle one Mr Abdullahi Uba, of the sum of N1.7m at the Obalende area of Lagos during the course of changing some dollars to naira.


It was reportedly gathered that Mr Uba had approached Usman in November 16th, 2016, requesting to change some Naira to American dollars.

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The suspect was said to have informed Uba that he didn’t have any hard currency at that period for exchange but talked the victim into exchanging the money at a partner’s place to which he accepted and handed the money over to the suspect.

Investigations into the matter revealed that the suspect returned with $100 which he gave to Mr Uba and when he discovered it was fake, he reported the alleged fraud at the Lion Building Police Division, and Nafada was arrested.

According to uncomfirmed reports from a police source in lion’s building, he said,

“About 30 minutes after, the complainant discovered that the notes were fakes. He ran back to Nafada, but he denied knowing about the fraud. He took the victim to where he changed the money, but his accomplice had disappeared. Effort is ongoing to apprehend him.”

The suspect had been arraigned before an Igbosere Magistrate Court on Monday on a three-count charge bordering on stealing. The offence is punishable under sections 409, 312 (1) and 278 of the Criminal Law of Lagos State, 2011.

The charge read in part, “That you, Usman Nafada, and one other at large, on November 16, 2016, at about 11.30am, at Obalende, Lagos Island, in the Lagos Magisterial District, did obtain N1,792,000 from one Abdullahi Uba as equivalent naira to 45 fake notes of $100.

“That you, and others at large, on the same date, time and place in the aforementioned magisterial district, did steal the sum of N1,792,000 property of one Abdullahi Uba, thereby committing an offence punishable under Section 278 (1) (a) of the Criminal Law of Lagos State, 2011.”

Usman, the defendant, has however pleaded not guilty before the presiding magistrate, Miss A. O. Awogboror, and has been granted bail in the sum of N200,000 with two sureties in like sum.

The case has been adjourned till December 13th, 2016.


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