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EFCC arrests pilot over alleged ₦1bn FX fraud

Preliminary investigation showed that the suspect diverted the money to his personal use as he bought a landed property for the start-up of his purported airline services company.

EFCC arrests ‘pilot’ over alleged N1bn fraud [Twitter:EFCC]

EFCC’s spokesman Dele Oyewale, stated on Tuesday in Abuja that a petitioner claimed that the suspect was introduced to him in December 2023 for the purpose of a ₦1.02 billion foreign exchange transaction.

“The petitioner allegedly paid the money into the suspect’s account to offer him its dollar equivalent.

“He explained that the suspect furnished him with evidence of the dollar payment which turned out to be fake as he never received any such payment,’’ Oyewale stated.

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He added that preliminary investigation showed that the suspect diverted the money to his personal use as he bought a landed property for the start-up of his purported airline services company.

He stated also that the suspect allegedly bought three 18-seater Toyota Hiace buses on which he imprinted the logo of the aviation services company, while four exotic cars were traced to him.

“He would be charged in court at the conclusion of investigations,’’ Oyewale assured.

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