The Nigerian Police Force has apprehended Chinedu Ernest Ngwaka, a suspected serial fraudster, over an alleged N320 million scam. The arrest followed a detailed investigation by the Force Criminal Investigations Department (FCID) Annex in Lagos after a petition was filed by Chinedu Laz and Partners on behalf of Mr. Tochukwu Unachukwu, Managing Director of Casco Electronics Company Limited.
The complaint accused Ngwaka and his wife, Janet Onyekachi Ngwaka, of orchestrating a scheme in which they fraudulently received funds intended for foreign transactions. Between March and May 2024, Mr. Unachukwu reportedly transferred N320 million to accounts linked to Ngwaka’s companies, Edunaco Multiple Resources Limited and Bright Janes World, for the procurement of $200,000 meant to facilitate the importation of goods from China.
Investigations revealed that Ngwaka provided fraudulent documents, including fake telex confirmations from Zenith Bank, to deceive the victim into believing the funds had been transferred in two tranches of $100,000 each. However, checks with the intended Chinese suppliers confirmed that no funds were received.
During the arrest, police recovered a black 2024 Toyota Hilux with a fake presidential number plate. Ngwaka falsely claimed to operate under the name *Phobia BDC Ltd., but authorities confirmed he had no legitimate Bureau de Change license, and the company had been deregistered earlier this year. Other items recovered include a forged identity card from the Federal Ministry of Labour and Employment and a fraudulent letter of introduction allegedly from the Head of Service of the Federation, seeking approval for the presidency number plate.
Further investigations revealed that the Toyota Hilux was purchased after the fraudulent transactions were conducted. The vehicle, imported into Nigeria in June 2024, was traced back to its sale by Don-Neiel Automobiles to Ngwaka.
Additional complaints against Ngwaka have surfaced, with other victims, including Mr. Moses Chizoba Enechukwu and Chinedu Nwaforcha, claiming losses of N1 billion and N840 million, respectively.
The police assured the public that Ngwaka and his accomplices would face prosecution upon the conclusion of investigations. They also urged citizens to remain vigilant and report suspicious activities, warning that anyone involved in fraudulent schemes would be prosecuted to the full extent of the law.
The Assistant Inspector General of Police, FCID Annex Lagos, emphasized the commitment of law enforcement agencies to combating financial crimes and protecting the public from fraud.
