Operatives of the Special Investigations Team (SIT) of the Force Criminal Investigations Department (FCID) Annex, Lagos, have apprehended one Chinedu Ngwaka for his alleged involvement in a ₦320 million fraud scheme.
Ngwaka, who claims to be a licensed Bureau De Change (BDC) operator, was also found with a fraudulent Presidency number plate on his black 2024 Toyota Hilux and a fake identity card supposedly issued by the Federal Ministry of Labour and Employment.
This development was disclosed on Wednesday in a statement by the Public Relations Officer of the FCID Annex, Lagos, Mayegun Aminat, via her X handle, @mayegunAmina.
The statement revealed that the arrest followed a petition filed on September 9, 2024, by Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr. Tochukwu Unachukwu, Managing Director of Casco Electronics Company Limited. The petition accused Ngwaka and his wife, Janet Onyekachi Ngwaka, of orchestrating a fraudulent scheme involving payments totalling ₦320 million.
“Between March and May 2024, Mr. Unachukwu transferred ₦320 million to Ngwaka and his wife through their company accounts, Edunaco Multiple Resources Limited and Bright Janes World, for the procurement of $200,000 to facilitate goods supply from China,” Aminat stated.
She further disclosed that investigations uncovered fake documents, including a forged telex confirmation from Zenith Bank purportedly showing two $100,000 tranches sent to Chinese suppliers, who later confirmed receiving no funds.
During the operation, police recovered the Toyota Hilux with a fake Presidency number plate (02B679FG). It was also discovered that Ngwaka falsely operated under the name “Phobia BDC Ltd.” A check with the Corporate Affairs Commission (CAC) and the Central Bank of Nigeria (CBN) revealed that Ngwaka had no ties to the company, whose licence was revoked earlier this year.
The police also noted additional allegations against Ngwaka, including petitions from Mr. Moses Chizoba Enechukwu and Chinedu Nwaforcha, seeking the recovery of ₦1 billion and ₦840 million, respectively.
Aminat confirmed that Ngwaka and his accomplices would face prosecution following the conclusion of investigations.
The Assistant Inspector-General of the FCID Annex, Lagos, urged citizens to report similar fraudulent activities and warned that those engaging in such illegal schemes would be prosecuted to the fullest extent of the law.
