Man bags seven years for forex fraud

The Economic and Financial Crimes Commission, Kano State chapter, has secured the conviction of one Muallayidi Mohammed Sani.
Sani had been arraigned on a three-count charge bordering on conspiracy and forgery.

He and one Sabinatu Aliyu Alhassan (at large) had engaged in forex racketeering, collecting Personal Travel Allowance (PTA) from commercial banks to sell at higher rates in the black market.

Part of the charge reads: “That you Muallayidi Mohammed Sani sometime in October 2021, in Kano, Kano State, within the jurisdiction of this honourable court, with the intent to defraud, forged some documents titled: ‘Air Ticket, Passport, and Visa’, purported to have been genuinely issued to facilitate the collection of PTA from commercial banks, and thereby committed forgery, an offense contrary to Section 363 and punishable under Section 364 of the Penal Code.”