Nigeria, April 7 -- Multichoice Nigeria Limited, a company engaged in the provision of satellite television services across Africa, was defrauded of the total sum of N7.9 billion in a controversial foreign currency exchange deal, court documents seen by PREMIUM TIMES have shown.

The botched foreign currency exchange transaction involved Akintunde Giwa, a currency exchange broker; JNFX Limited, a currency exchange firm; Ashay Mervyn, a representative of JNFX, and Frontier Financial Technologies Limited.

Mr Giwa is a currency exchange broker who earns a commission by assisting those looking to buy US dollars with Nigerian Naira. JNFX is a private limited company incorporated in England and engaged in foreign exchange and international mon...