Court Sentences Man To 12 Years Imprisonment Over ₦64 Million Fake Dollar Exchange Scam In Lagos
A Lagos court has sentenced Chukwuemeka Udezuka to 12 years in prison for stealing a total of ₦64,060,000 from four victims who had engaged him to help convert naira to the U.S. dollars at the official Central Bank of Nigeria exchange rate. Justice Rahman Oshodi of the Special Offences Court in Ikeja delivered the judgment on Friday, June 5, 2026, after finding Udezuka and his company, Mezu Connection Investment Limited, guilty on all four counts of stealing filed by the EFCC's Lagos Zonal Directorate 1. According to the prosecution, the defendant collected funds from the victims in 2022 under the pretense of facilitating foreign exchange transactions at the official CBN rate, before disappearing and cutting off all contact, leaving the victims with no means of recovering their money. Among the specific counts, Udezuka was found to have dishonestly converted ₦28,000,000 belonging to one Chizoba Benson Chiegwu and ₦17,360,000 belonging to Hojoli Augustine Okechukwu, among ot...