Two BDC Operators Sent To Prisons Over Alleged N78.7m Fraud

Two Bureau De Change (BDC) operators, Abdulbasid Usman and Yusuf Hamza, have been remanded at the Ikoyi center of the Nigerian Correctional Services (NCoS), over alleged conspiracy and obtaining a total sum of N78,797,000 million under false pretence.

Both Abdulbasid and Yusuf, who allegedly acted as ‘conduit pipe’ to an evasive fraudster (name withheld) were remanded by Justice chukwujekwu Aneke of a Federal High Court, Lagos, sequel to their arraignment by the operatives of the Force Criminal Investigation Department (Force CID) Annex, Alagbon-Ikoyi Lagos, on Friday.

The two defendants and others now at large, according to the prosecutor, Barrister Morufu Ajani Animashaun, were arrested and charged to court, after they were found culpable of the alleged crimes made against them.

Animashaun a legal officer at Forcecid’s Legal/Prosecution department, in a charge marked FHC/L/1061c/2015, also told the court that the defendants were arrested following a complains made against them by the fraud victims

He further told the court that the two men and the alleged fraudster, lured their victims with representation that they were capable of procuring a genuine Certificate of Sponsorship to them.

Specifically, they were alleged to have defrauded the duo of Olaitan Gbeja and Babatunde Kehinde Daniel of the sum of N73.09 million and N5.7 million totaling N78,797,000.00.

They were alleged to have committed the offences in the month of April, 2025, at No. 312 Road, A Close, Block 1, Flat 15, Festac Town, Lagos State.

The alleged offences according to the prosecutor, contravened sections 8(a) and 1(1)(a) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006 and punishable under Section 1(3) of the same Act.

The two defendants have however pleaded not guilty to the charges.

Based on their not guilty plea, the prosecutor, Barrister Animashaun prayed the court for a trial date.

He equally applied that the defendants be remanded pending the conclusion of the charges.

Lawyer to the defendants, M. Bashir, who did not opposed the prosecutor’s application, however asked the court for a short date to enable him file and argued his clients’ bail application.

Based on the above, Justice Aneke adjourned the matter to March 25, 2026 for trial, while ordered the remand of the two defendants in the facility of the Nigerian Correctional Services (NCoS).

Charges Against the defendants read: “that you, Abdulbasid Usman (M), Yusuf Hamza (M) and others now at large, in the month of April, 2025, at No. 312 Road, A Close, Block 1, Flat 15, Festac Town, Lagos State, within the Lagos Judicial Division, did conspire amongst yourselves to commit a felony, to wit: obtaining by false pretence, and thereby committed an offence contrary to Section 8(a) of the Advance Fee Fraud and other Fraud Related Offences Act No. 14 of 2006 and punishable under Section 1(3) of the same Act.

“That you, Abdulbasid Usman (M), Yusuf Hamza (M) and another now at large, in the month of April, 2025, at No. 312 Road, A Close, Block 1, Flat 15, Festac Town, Lagos State, within the Lagos Judicial Division, did fraudulently obtain the sum of N73,097,000 (Seventy-Three Million, Ninety seven Thousand Naira) from one Olaitan Gbeja, by falsely representing to her that you were capable of procuring a genuine Certificate of Sponsorship on her behalf, a representation which you knew to be false, and thereby committed an offence contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.

“That you, Abdulbasid Usman (M), Yusuf Hamza (M) and another now at large, in the month of April, 2025, at No. 312 Road, A Close, Block 1, Flat 15, Festac Town, Lagos State, within the Lagos Judicial Division, fraudulently obtained the sum of N5,700,000 (Five Million, Seven Hundred Thousand Naira) from one Babatunde Kehinde Daniel, by falsely representing to him that you were capable of processing a genuine Certificate of Sponsorship for him, a representation you knew to be false, and thereby committed an offence contrary to Section 1(1)(a) and punishable under Section 1(3) of the Advance Fee Fraud and Other Related Offences Act, 2006.”