Police Recover a Phony Presidential Plate Number and Arrest Chinedu Ngwaka for Alleged N320 Million Fraud.

The operatives of the Special Investigations Team affiliated with the Force Criminal Investigations Department Annex in Lagos State have apprehended one Chinedu Ngwaka for his alleged participation in a fraudulent operation amounting to N320 million. Ngwaka, who claims to be a Bureau De Change operator, is also accused of utilizing a counterfeit Presidency number plate on his Toyota Hilux vehicle, as well as a forged Identity Card allegedly issued by the Federal Ministry of Labour and Employment. This information was revealed in a statement released on Wednesday by the Public Relations Officer of the FCID Annex, Lagos State. The statement included, “On September 9, 2024, the Nigeria Police Force received a petition directed to the Assistant Inspector-General of Police at the FCID Annex, Lagos, from Chinedu Laz and Partners (Deo Gratia Chambers) on behalf of Mr. Tochukwu Unachukwu, the Managing Director of Casco Electronics Company Limited, alleging that Chinedu Ernest Ngwaka and his wife, Janet Onyekachi Ngwaka, were involved in a fraudulent scheme totaling N320 million. “Following the receipt of the petition, detectives from the Special Investigations Team of the anti-fraud Section at the Force Criminal Investigations Department (FCID) Annex, Lagos, promptly initiated an intelligence-driven investigation. The team examined pertinent banking records and obtained an arrest warrant, which resulted in the capture of Chinedu Ernest Ngwaka, who claims to be a Licensed Bureau De Change (BDC) operator. “Further inquiries revealed that between March and May 2024, Mr. Unachukwu transferred a total of N320 million to Ngwaka and his wife through their company accounts, Edunaco Multiple Resources Limited and Bright Janes World, for the purchase of USD 200,000 intended to facilitate the supply of goods from China. “However, additional intelligence uncovered fraudulent documents, including a telex confirmation from Zenith Bank, which falsely indicated the completion of transactions in two installments of USD 100,000. The Chinese suppliers confirmed that no such funds were received.” During the operation, the Special Investigation Team (SIT) seized a black 2024 Toyota Hilux that bore a counterfeit Presidency number plate (02B679FG) from the suspect, Ngwaka. He falsely represented himself as operating under the name ‘Phobia BDC Ltd.’ However, inquiries with the Corporate Affairs Commission (CAC) and the Central Bank of Nigeria (CBN) revealed that he had no affiliation with the company and that its license had been revoked earlier in the year. Aminat indicated that the police operatives had also received additional petitions against Ngwaka, including claims from Mr. Moses Chizoba Enechukwu and Chinedu Nwaforcha, who are seeking the recovery of ₦1 billion and ₦840 million, respectively. Upon the completion of the investigation, Ngwaka and his accomplices will face charges in court for prosecution. The Assistant Inspector-General of the Force CID Annex Lagos has urged the public to remain alert and report any similar fraudulent activities to the appropriate authorities. Citizens are also cautioned that those engaged in such illegal activities will be subject to the full extent of the law.