Two Men Arraigned for N16.6 Million Currency Exchange Fraud at Lagos Airport
Two Men Charged with N16.6m Fraud at Lagos Airport
Two men, Usman Garuba (28) and Sagir Shuaib (30), have been arraigned before the Ogba Magistrate Court in Lagos for allegedly defrauding a traveller of N16.6 million under the guise of currency exchange at Murtala Muhammed International Airport.
The defendants reportedly approached the victim, Ali Kelvin, on March 26, 2025, around 5 p.m., posing as Bureau De Change operators. They promised to convert 90,000 Chinese RMB—valued at approximately N16.65 million—into Nigerian naira. After receiving the foreign currency, they allegedly failed to deliver the equivalent naira.
Following Kelvin’s complaint, the Airport Police Division launched an investigation that led to the arrest of the suspects. During interrogation, Garuba and Shuaib reportedly admitted to collecting and spending the money, saying they could no longer refund the victim.
The two men were charged with conspiracy, obtaining money under false pretenses, and theft. Prosecutors stated that they acted alongside two others who are still at large.
The first charge accused them of conspiracy to commit fraud, an offense under Section 325(1) of the Lagos State Criminal Law. The second charge involved obtaining the 90,000 RMB under false pretenses, contrary to and punishable under Section 314(3). The third charge alleged theft of the foreign currency, under Section 287.
The defendants pleaded not guilty to all charges.
Prosecuting officer, Inspector Adeitan Oluwabunmi, requested a date for hearing, confirming the prosecution's readiness to present evidence.
Presiding Magistrate M.A. Agbaje granted bail to the accused with strict conditions, including verified sureties with valid proof of livelihood and tax payments. Their addresses are to be confirmed before release.
Until bail conditions are met, Garuba and Shuaib remain in custody at Kirikiri Correctional Centre. The case has been adjourned for mention.
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