The Force Criminal Investigation Department(FCID) has detained a self-acclaimed licensed Bureau De Change, BDC, operator, Chinedu Ngwaka, over alleged fraud of N320 million.
The FCID’s Police Public Relations Officer (PPRO), ASP Aminat Mayegun, confirmed the arrest and detention in a post on her X handle on Wednesday, 27 November, 2024.
According To Maiyegun, the police received a petition addressed to the Assistant Inspector General of Police, AIG, Mr Ayodeji Ogundele, FCID Annex, Lagos on 9 September, 2024.
She explained the arrest followed a petition filed by one Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr Tochukwu Unachukwu, the Managing Director of Casco Electronics Company Limited, that Ngwaka and wife, Janet were involved in a fraudulent scheme amounting to N320 million.
According to her, upon receipt of the petition, detectives from the Special Investigations Team, SIT of the Anti-Fraud Section attached to FCID Annex in Lagos State swiftly swung into investigation, leading to the arrest of the suspect.
PPRO said that further investigation revealed that between March and May this year, Unachukwu made payments totaling N320 million to Ngwaka and Jane his wife.
“Unachukwu made payment of N320 million through an account belonging to Ngwaka’s company, Edunaco Multiple Resources Limited and Bright Janes World, for the procurement of $200,000 USD to facilitate the supply of goods from China.
“However, additional intelligence uncovered fraudulent document, including a telex confirmation from Zenith Bank, which purportedly shows the completion of the transactions in two $100,000 USD tranches.
“The Chinese suppliers confirmed that no such funds were received,” she said.
