A bureau de change operator, Arinze Onwudiwe, was Thursday arraigned before an Igbosere Magistrates’ Court for alleged N17.9 million fraud.
Onwudiwe was alleged to have obtained N17.9 million from a businessman, Mr. Chinonso Nnebedum under the pretext of changing the money to US dollar equivalent.
Onwudiwe, 40, of no fixed address is facing a three-count charge of conspiracy, fraud and stealing before Magistrate, Mrs A. A. Famobiwo.
Prosecuting Insp. Ibrahim Haruna told the court that the defendant committed the alleged offences on September 11, at 11.00a.m, at No. 5, Ganiyat Street, Monkey Village Maza-Maza, Lagos.
The prosecutor said that the defendant fraudulently obtained the sum of N17.9 million from the complainant, Nnebedum, under the guise of giving him its dollar equivalent.
He said the defendant, instead converted the money to personal use.
Onwudiwe pleaded not guilty.
Magistrate Famobiwo granted him bail in the sum of N1million with two sureties in like sum.
She ordered that the sureties must be gainfully employed and should show evidence of two years tax payments to the Lagos State Government.
She adjourned the case until November 5.