Nigeria: Dollar Scarcity - How Suspected Fraudster Cloned Cashier's Cheque

18 February 2017

The difficulty in accessing foreign exchange for transactions has exposed some unsuspecting Nigerians to criminals who have been dispossessing them of their hard- earned money on the pretext of selling dollars to them. However, it was the end of the road for one of such suspected criminals recently in Lagos, after operatives of the X-Squad arrested him for allegedly defrauding two victim's N42, 400,000 on the pretext of selling false dollars equivalent to them.

The suspect, Taiwo Olayinka Hassan, 34, a secondary school certificate holder from Ogun State, and father of three was arrested following a petition to the police, written by one of the victims (name withheld) and a former staff of Sky Bank, Suileman Idowu. The unsuspecting ex-banker, Idowu, was the one that introduced the suspect, Taiwo, said to be a regular customer with the bank to his victims who wanted to buy dollar from the black market.

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