The Force Criminal Investigation Department (FCID) has apprehended Chinedu Ngwaka, a self-acclaimed Bureau De Change (BDC) operator, on allegations of fraud amounting to ₦320 million. The FCID’s Public Relations Officer, ASP Aminat Mayegun, confirmed the arrest in a statement on Wednesday.
Ngwaka and his wife, Janet, were implicated following a petition from Tochukwu Unachukwu, Managing Director of Casco Electronics Company Limited, who accused them of defrauding him through their companies, Edunaco Multiple Resources Limited and Bright Janes World.
Unachukwu claimed he paid ₦320 million between March and May 2024 for the procurement of $200,000 meant to facilitate goods from China. However, investigations revealed fraudulent banking documents and confirmation from the Chinese suppliers that no funds were received.
Further inquiries uncovered that Ngwaka falsely claimed to operate under a revoked BDC license, fabricated official documents, and possessed a Toyota Hilux with a fake presidency number plate.
The FCID also received additional petitions against Ngwaka for alleged fraud totaling over ₦1.8 billion. Authorities have pledged to prosecute him and his accomplices upon completing investigations.
AIG Ayodeji Ogundele of FCID Annex Lagos urged Nigerians to remain vigilant and report fraudulent activities to law enforcement.
