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Emmanuel Nwude, a businessman, who was convicted of defrauding a Brazilian bank of 242 million dollars, has denied knowing the source of the funds while testifying on Thursday before an Ikeja Special Offences Court.
The News Agency of Nigeria (NAN) reports that Nwude was convicted by an Ikeja High Court in 2005 for impersonating Paul Ogwuma, a governor of the Central Bank of Nigeria (CBN), who had served from Oct. 1, 1993, to May 29, 1999, in order to defraud a Brazilian bank.
The bank, Banco Noroeste, was defrauded of 242 million dollars between 1995 and 1998. x
As at the time of the incident, it was the third-largest bank fraud in history, resulting in the collapse of Banco Noroeste in 2001.