Operatives of the Force Criminal Investigation Department Annex, Lagos of the Nigeria Police Force have arrested a Bureau De Change operator, Chinedu Ngwaka, over alleged N2.1 billion fraud and application for and usage of a number plate of the Presidency......Read The Full Article>>.....Read The Full Article>>
The spokesperson of the FCID Annex, Lagos and an Assistant Superintendent of Police, Aminat Mayegun, revealed this in a statement.
In the statement obtained by The Eagle Online over the weekend, the police in the first instance arrested Ngwaka after a petition by one Tochukwu Unachukwu on September 9, 2024, accusing the BDC operator of a N320,000,000 fraud.
Ngwaka was accused of having perpetrated the fraud alongside his wife.
Unachukwu, the Managing Director of Casco Electronics Company Limited, had made a transfer of N320,000,000 to Ngwaka between March and May for the procurement of $200,000 to facilitate the supply of goods from China.
However, the Chinese suppliers, whom Ngwaka was allegedly transacting with, affirmed that they never received any funds from the BDC operator.
The fund transfer to China, on the other hand, was reported to be a sham as telex documents from Zenith Bank PLC showed that the $200,000 funds transfer in two batches were fraudulent.
The police revealed that Ngwaka has no affiliation whatsoever with the company, Phobia BDC Limited, which he operated, upon verification from the Corporate Affairs Commission and the Central Bank of Nigeria.
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“The CBN confirmed that he had no association with the company in any form, and that the company’s Licence has been revoked earlier in the year,” Mayegun stated.
Ngwaka was also complicit in faking an identity as a consultant of the Federal Ministry of Labour and Employment, a fraudulent activity culpable of impersonation charges.
Mayegun added that a letter addressed by the Head of Service of the Federation seeking the allocation of the Presidency Number Plate was also recovered from Ngwaka.
She said: “The SIT recovered a black 2024 Toyota Hilux with a fraudulent Presidency number plate (02B679FG) from the suspect, Ngwaka, who falsely claimed to operate under the name, Phobia BDC Ltd.”
Investigations also revealed that Ngwaka purchased the vehicle from one Don-Neiel Automobiles Nigeria after the sham transaction with Unachukwu.
The Police Spokesperson added that the Force acted promptly after receiving several petitions from different individuals against Ngwaka in 2024.
Few of the petitions received are from Moses Chizoba Enechukwu and Chinedu Nwaforcha, who are seeking recovery of N1 billion and N840,000,00 respectively.
