This last weekend i went to Ikeja Airport hotel to change some pounds.Just as i was about to enter the premises some guys approached me with a mouth watery bargain of 235 naira per pound.Innocently i jumped at the offer and also expressed my unreserved fear.Just last year one of the 'money changers' was gunned down because he duped a lady off her foreign currency.I recounted the incident and warned them not try such with me,of cause they promised that they will not do such.I counted my money on the spot and it was complete.I gave him the pound equivalent only to get home to notice that my 'Naira' was N7,500 short. I did'nt believe or comprehend so i recounted the money only to find out the same thing.By the time i got there the guy had taken to his heels.I was about causing a scene so one of the guys who i believe was an accomplice gave me N5,000 after i explained the incidence. The guy i actually changed the money from whose number is 08034825713 and claimed to be 'JIDE' by name is still at large.Please never fall victim like i did.

eya,

that is what most of those mallam at allen roundabout do.

Sorry for your loss, i guess you are wiser now.

It happens all the time around airport hotel ikeja.i had to use a military guy to retrieve my money back.they always bait u with attractive exchange rate

Next time enter an office in the main complex and you would almost not have problem.

I believe u have learnt

I was also a victim yesterday at Allen Avenue. At the entrance of the market, met with one old white hair man. They took me just near by shop outside the gate with negotiation of 152naira for a dollar. This man counted the money in front of me and returned it back to me . They told me wait for the money. Then another guy just came and told us that the mallam will exchange dollar for 162.50.
I put money into pocket only to discover that 8500naira had disppeared when i got to the office of another mallam.
When i shouted they it ONE CHANCE people were the people i first met.

Airport hotel locality is not save at any time. when never you want do transaction try go somewhere else man.

Always enter the Alade Market complex and do business with the mallams on the right.They've never disappointed me before.

i was also a victim, mine was in Allen. i counted the cash, and it was remaining one to be complete, i told them and they counted the money and lo and behold , the money was given back to me, i didnt bother counted again, i went straight to Zenithbank to pay into an account, i gave everything to the cashier, and she said my money wasnt complete, 26pieces of N100 notes was missing. N26,000. ialmost ran mad., she asked if i was coming from the bereur the change, she said it is no more news that there r fake bereaur the change, not mallams alone, thee r lots of yoruba boys doing it. i feel the problem is wthin us, dont jump at too attrative offer, make enquiry before leaving ur house, if the rate is 120/dollar and anyone is giving u for N140. then shine ur eyes,infact pick race, make sure you change the money inside a shop, not on the street or by the road.

ola

Fellow Nairalanders,
This is how the money changer scam works;
1. They offer you a rate higher than the going rate.
2. They ensure you sit in the car while they stand by the window (Always avoid sitting in your car when you change money. Sit down at a table with them)
3. If for instance they are spossed to give you N15,000. The guy hands you N14,000 instead.
4. You count it and report that it is not correct.
5. The guy collects the money frm you counts it and agrees with you that it is remaining N1,000.
6. He shufles like N2,000 or N3,000 while he is doing this. (Maybe drops them on the ground) Remember you are still sitting in your car so you cant notice this.
7. He hands you the incomplete N14,000 and hands you a separate N1,000 gleefully anouncing that "this one is now complete"
8. Because he agreed with you and because you see him add extra N1,000 you gladly accept both the N14,000 (that has been reduced to N11k or even N10k!!!!!) and the extra N1k. You think you have N15k but you actually have maybe N11K or N12K!!!!!
9. You are so excited that you are able to get N1 extra on the normal exchange rate that you zoom off with a feeling of self acomplishment.
10. But you've been duped.
At every stage, ensure to RECOUNT ALL the money handed to you each time you exchange any notes before handing over your foreign currency. Dont sit in the car and negotiate with them. Get down and sit at a table. Ensure you go with someone.

I was once a victim of such at MMA Intl Airport,I had just arrived into the country and was not aware of such fraud going on.I was directed to some mallams by a cab driver, we agreed on a price, I counted the money twice in their prescence only to get to my hotel to discover that the bundle had reduced consideraly in size.Needless to say,I was ripped off by N26,000. Since then I aiways go to registered Forex dealers no matter the rate.