Two women, Blessing Chima, 47, and Chikamson Williams, 49, were arraigned before the Federal High Court for alleged N75m money laundering. They face four counts of conspiracy, obtaining by false pretence, illegal conversion, and money laundering.
According to the police prosecutor, S.O. Ayodele, Chima obtained N75m from Lanre Afebuameh under the guise of exchanging it for Chinese Yen, which she would send to his clients in China.
However, she only transferred the Yen equivalent of N3m and continued to give excuses for not completing the transaction.
Williams is accused of receiving N140m, part of which belonged to Afebuameh, which was stolen by Chima.
The defendants pleaded not guilty to the charges, and the prosecutor called Afebuameh as the first prosecution witness.
Similar cases of forex fraud have been reported in Nigeria, including the arraignment of a suspected fraudster for N7.5m forex scam in Abuja.
The Economic and Financial Crimes Commission (EFCC) has also arrested five suspected forex speculators in Aba.
