The duo were arraigned before Justice Oluremi Oguntoyinbo.
They allegedly defrauded no fewer than 30 Bureau De Change (BDC) operators in Lagos between 2015 and February this year, mostly by falsely presenting to the victims that they had foreign currencies to sell to the BDC operators.
Others were Abdurawan Hassan, who allegedly lost N1.46m to Egbegbe on January 1, this year; Suraju Garuba, who lost N850, 000 in July last year; Abdullahi Mumini, who lost N2.15m in September last year; Garuba Hassan, who lost N700, 000 on January 10, last year; and Sanni Mohammed, who lost N1.89m on January 29, this year.
Also allegedly swindled by Egbegbe were Barowo Abdullahi, who lost N2.6m; Yahu Alidu, who lost N1.75m; Tairu Musa, who lost N2m; Mohammed Bello, who lost $300; Mohammed Usman, N450, 500; Suleiman Shehu, who lost N1.276m; Ahmadu Abda, who lost N2m; Nairu Musa, who lost N1.007m; and Sanni Mohammed, who lost N1.6m and $3,000.
Others include Umaru Haruna, who lost N1.7m; Abubakar Musa, who lost $4,000; Abdulrasaq Sanni, who lost N1.7m; Abdullahi Babatunde, who lost N2.77m; among others.
The Police prosecutor, who signed the charge sheet, Mr. Effiong Asuquo, said Egbegbe and Ayomide acted contrary to Section 8 of the Advance Fee Fraud and Other Related Offences Act, 2006 and were liable to be punished under Section 1(3) of the same.
However, when the 36 counts were read to Egbegbe and Ayomide, they both pleaded not guilty.
The prosecuting counsel for the Police, Innocent Anyigor, urged the court to order the remand of the defendants in the prison custody and to fix a day for trial.
But the defence Counsel, Mrs. A.O. Gbadamosi, told Justice Oguntoyinvo that she intended to file bail applications on behalf of Egbegbe and Ayomide.
The Judge ordered that the defendants should be remanded in the prison custody and adjourned till March 24, this year for commencement of trial.