By Uzair Adam
Operatives of the Special Investigations Team (SIT) attached to the Force Criminal Investigations Department (FCID) Annex in Lagos State have apprehended one Chinedu Ngwaka, accused of orchestrating a fraudulent scheme valued at ₦320 million.
Ngwaka, who presented himself as a licensed Bureau De Change operator, allegedly used a counterfeit presidency number plate on his 2024 Toyota Hilux and carried a forged identity card supposedly issued by the Federal Ministry of Labour and Employment.
This was disclosed on Wednesday by the Police Public Relations Officer of the FCID Annex in Lagos, Mayegun Aminat, through a post on her X handle, #mayegunAmina.
According to the statement, a petition was submitted on September 9, 2024, to the Assistant Inspector-General of Police, FCID Annex, by Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr. Tochukwu Unachukwu, the Managing Director of Casco Electronics Company Limited.
The petition accused Ngwaka and his wife, Janet Onyekachi Ngwaka, of defrauding Unachukwu of ₦320 million.
Following the petition, SIT detectives initiated an intelligence-led investigation.
Banking records were reviewed, and a warrant of arrest was secured, which later led to the detention of leading to Ngwaka.
Investigations revealed that between March and May 2024, Unachukwu transferred ₦320 million to Ngwaka’s companies, Edunaco Multiple Resources Limited and Bright Janes World, for the procurement of USD 200,000 to facilitate the supply of goods from China.
However, the Chinese suppliers confirmed they never received the funds, despite Ngwaka presenting fraudulent documents, including a telex confirmation from Zenith Bank, indicating the transactions were completed in two tranches of USD 100,000 each.
During the arrest, police recovered the black Toyota Hilux bearing a fake presidency number plate (02B679FG).
Further checks with the Corporate Affairs Commission (CAC) and the Central Bank of Nigeria (CBN) revealed that Ngwaka had no affiliation with Phobia BDC Ltd., the company he claimed to represent, and that its license had been revoked earlier in the year.
The police also received additional petitions against Ngwaka, including claims from Mr. Moses Chizoba Enechukwu and Chinedu Nwaforcha, who alleged losses of ₦1 billion and ₦840 million, respectively.
Ngwaka and his accomplices will be charged to court upon the conclusion of the investigation.
Meanwhile, the Assistant Inspector-General of Police, FCID Annex, has urged the public to remain vigilant and report any fraudulent activities to law enforcement agencies.