A bureau de change operator, Edwin Nwankwo, has been arraigned before the Igbosere Magistrates’ Court for allegedly defrauding one Abdulmalik Yunusa of $15,500 (N4,743,000).

Nwankwo was arraigned on Thursday on three counts of fraud and stealing.

The 51-year-old was alleged to have fraudulently obtained the money from Yunusa under the pretext of giving him the naira equivalence.

According to the police prosecutor, Friday Mameh, the defendant and others at large committed the offences in Lagos sometime in November 2018.

Mameh added that the defendant deceived the complainant into crediting his dollar account with the said money.

“He received the money, but did not give the naira equivalence,” he said.

The prosecutor noted that the offences contravened sections 287 (9), 314 and 411 of the Criminal Laws of Lagos State, 2015.

The Magistrate, Mr B. I. Bakare, admitted the defendant to bail in the sum of N750,000 with two sureties in like sum.

He said the sureties must be gainfully employed with evidence of tax payments to the state government.

The case was adjourned till May 22 for mention.

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