Man, 46, faces N2.8m forex fraud charge


A  46-year-old man, Kunle Ogunyemi, who allegedly defrauded two people of N2.8 million on the pretext of investing it in forex trading, on Friday appeared before an Ikeja Magistrates’ Court.

Ogunyemi, whose residential address was not given, is facing a two-count charge bordering on obtaining money by false pretences.

He, however, pleaded not guilty to the charge.

The prosecutor, Insp Wasiu Dada, alleged the defendant obtained  N2,050,000 from one Mrs Mary Abiodun and N800,000  from another person  with a promise to introduce them into forex trading.

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Dada said that the defendant knew that the representation was false.

He told the court that the defendant committed the offences on May 1 at 1.00 p.m. at Iyana-Ipaja, Lagos State.

He submitted that efforts made to retrieve the money from the defendant proved abortive.

The prosecutor said the alleged offences contravene Sections 313 and 314 of the Criminal Law of Lagos State, 2015.

The News Agency of Nigeria (NAN) reports that obtaining money under false pretences attracts 15 years’ imprisonment.

Magistrate Emeka Opara admitted the defendant to  bail in the sum of N200,000 with two sureties in like sum.

Opara ordered that the sureties must be gainfully employed and have evidence of two years’ tax payment to Lagos State Government.

He adjourned the case until Nov. 10 for mention. (NAN)

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