The police have arrested one Chinedu Ngwaka and his wife, Janet Onyekachi Ngwaka for alleged N320 million fraud.
A statement posted on X by ASP Aminat Mayegun said their arrest was made following a petition received by the police on the 9th September, 2024, which was addressed to the Assistant Inspector General of Police, FCID Annex, Lagos.
She noted that the petition was written by Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr. Tochukwu Unachukwu, the Managing Director of Casco Electronics Company Limited, against Ngwaka and his wife,.
Mayegun explained that upon receipt of the petition, detectives from the Special Investigations Team of the Anti-Fraud Section attached to FCID Annex, Lagos, swiftly swung into an intelligence-led investigation.
She added that the team reviewed relevant banking records and secured a Warrant of Arrest, which led to the apprehension Ngwaka, a self-acclaimed Licensed Bureau De Change (BDC) operator.
Mayegun added: “Further investigation revealed that between March and May, 2024, Mr. Unachukwu made payments totaling N320,000,000 to Ngwaka and his wife through their company accounts, 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 documents, including a telex confirmation from Zenith Bank, which purportedly shows the completion of the transactions in two $100,000 tranches. The Chinese suppliers confirmed that no such funds were received.
“During the operation, 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.”
Mayegun stressed that verification with the Corporate Affairs Commission (CAC) and the Central Bank of Nigeria (CBN) confirmed that he had no association with the company in any form, and that the company’s License had been revoked earlier in the year
She noted that a fake Identity Card, purportedly issued by the Federal Ministry of Labour and Employment, was discovered, fraudulently identifying Ngwaka as a consultant of the Ministry, while another letter of introduction addressed ‘to whom it may concern’, purportedly issued by the Head of Service of the Federation, seeking allocation of Presidency Number Plate to the suspect was also recovered from him.
Mayegun pointed out that relevant authorities have confirmed the illegitimacy of the documents.
According to hi, The investigation further revealed that the Toyota Hilux, imported into Nigeria in June 2024 by Humble Autos, who sold same to a local dealership, Don-Neiel Automobiles Nigeria who subsequently sold to Chinedu Ngwaka, after he had engaged in the fraudulent transaction with Mr. Unachukwu.
Mayegun said several other petitions have been received against Ngwaka, including claims from Mr. Moses Enechukwu and Chinedu Nwaforcha, seeking the recovery of ₦1 billion and ₦840,000,000 respectively.
She assured that upon the conclusion of the investigation, Ngwaka, along with his co-conspirators, will be charged to court for prosecution.