Two arraigned for N16.6m currency fraud at Lagos Airport
Two men, Usman Garuba and Sagir Shuaib, have been arraigned before the Ogba Magistrate Court in Lagos for allegedly defrauding a traveller of over ₦16 million by impersonating Bureau De Change operators at the Murtala Muhammed International Airport.
According to police investigations and court filings, the incident occurred on March 26, 2025, around 5:00 p.m., when the defendants approached the victim, Ali Kelvin, at the airport.
The accused reportedly posed as legitimate currency exchange agents and offered to convert 90,000 Chinese yuan (RMB) equivalent to approximately ₦16,650,000 into Nigerian naira.
The victim, believing the suspects were genuine, handed over the foreign currency but never received the naira equivalent in return.
Following a formal complaint filed with the Airport Police Division, officers launched an investigation which led to the swift arrest of both suspects.
During interrogation, both Garuba and Shuaib allegedly confessed to collecting the foreign currency and admitted to spending the full amount without the means to refund the victim.
The defendants now face a three-count charge, including conspiracy, obtaining money under false pretenses, and theft.
In the first count, they were charged with conspiracy to commit a felony, specifically obtaining money under false pretenses and stealing, in violation of Section 325(1) of the Lagos State Criminal Law.
The second count accuses them of fraudulently obtaining 90,000 RMB under false pretenses, an offense punishable under Section 314(3).
The third count pertains to the theft of the funds, contrary to Section 287 of the Lagos State Criminal Law.
Both defendants pleaded not guilty to all charges during their court appearance.
Prosecuting officer Inspector Adeitan Oluwabunmi informed the court that the prosecution was fully prepared to proceed and requested a hearing date to present evidence.
Magistrate M.A. Agbaje granted the defendants bail, stipulating that each must provide sureties with verifiable means of livelihood and evidence of tax compliance.
The court further directed that law enforcement officers must verify the residential addresses of the sureties before the bail conditions could be fulfilled.
Until they meet the bail terms, Garuba and Shuaib are to be held at the Kirikiri Correctional Centre.
The matter has been adjourned for mention on a date yet to be confirmed by the court.