Ibrahim Omotosho CEO/MD of Builders construction LTD, a boutique real estate and construction outfit in Lekki has been petitioned at the office of the AIG – FCID Alagbon division on a case of reported fx fraud.
Ibrahim was reported to have been involved in some forex transactions where full value for payment was not received and money held back in bad faith.
Amidst the atmosphere of increased volatility in the fx marketplace and dire situation for marketers hunting good deals to make oversea settlements – the fx market is bound to host a lot of bad actors and fraudulent characters in this season of fx swings.
NB: we are following this up with an investigative series of how bad actors round trip USD at the cost of actual business that need it and has made a mess of the form Q processes – which the CBN discounted.
