EFCC arraign three men for alleged N46m forex fraud

The Economic and Financial Crimes Commission (EFCC) on Thursday arraigned three men at the Lagos Special Offences Court, Ikeja, for alleged N46.3 million forex fraud.

The suspects – Osita Nduh, Elder Ugbine, and Idika Williams were arraigned alongside a company, Destiny Osita International Limited, on a four-count charge of conspiracy, stealing, obtaining by false pretence and receiving fraudulently obtained property.

They, however, pleaded not guilty to the charge.

The EFCC prosecutor, Mr. Nnaemeka Omewa, told the court that the defendants allegedly committed the offences in August 2023 in Lagos.

Omewa alleged that the defendants, with others still at large, conspired and dishonestly converted to their use the sum of N46.3 million which belonged to one Mr. Chigozie Amadike.

He said the defendants, under false pretences told the complainant that they were forex dealers and had the Chinese RMB equivalent of the said sum pegged at 377, 150 RMB to exchange for him, a representation they knew to be false.

READ ALSO: EFCC arrests suspected fraudster allegedly buying bank accounts details

The prosecution also submitted that Ugbine dishonestly retained the sum of N50 million paid to his company’s account.

According to him, the offences violated Sections 278(1)(b) and 285(9) of the Criminal Laws of Lagos State, 2011 and Sections 1(1)(a) and 1(3) of the Advance Fee Fraud and Other Fraud Related Offences, 2006.

He, therefore, asked the court to pick a trial date and for the defendants to be remanded at the correctional centre.

The Counsel to the first and second defendants, Mr. Tochukwu Igweza, urged the court to allow his clients to continue to enjoy the administrative bail granted to them by the EFCC.

The counsel to the third and fourth defendants, Mr. Anthony Ameh, also prayed the court to allow his clients to enjoy the administrative bail granted to them by the commission.

Justice Mojisola Dada ruled that all the defendants continue to enjoy the administrative bail granted to them by the EFCC.

She adjourned the case till June 16 for the commencement of the trial.

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