In a shocking development, the Lagos State Police Command has apprehended Chinedu Ernest Ngwaka and his wife, Janet Onyekachi Ngwaka, for orchestrating a multi-million naira scam. The duo allegedly defrauded Tochukwu Unachukwu, the Managing Director of Casco Electronics Company Limited, of ₦320 million in a complex foreign exchange deal gone wrong.
According to police reports, the fraudulent activities occurred between March and May 2024. The victim, Mr. Unachukwu, transferred the staggering sum to accounts linked to Edunaco Multiple Resources Limited and Bright Janes World, both controlled by the Ngwakas. The funds were intended for procuring $200,000 for goods from China. However, investigations revealed that the supposed transaction was a façade, backed by fake documents, including a telex confirmation from Zenith Bank. Shockingly, Chinese suppliers confirmed they never received the funds.
In a dramatic twist, police also discovered a black Toyota Hilux with a fake presidency number plate in Ngwaka’s possession. Further digging exposed counterfeit identity cards and documents, falsely presenting Ngwaka as a government consultant. The corporate affairs commission and Central Bank of Nigeria confirmed that Ngwaka’s alleged Bureau de Change company was unregistered and its license revoked.
The scandal deepened as more victims came forward. Among them, Moses Chizoba Enechukwu and Chinedu Nwaforcha claim losses amounting to ₦1 billion and ₦840 million, respectively. With mounting evidence, the police are pressing ahead with criminal charges against the Ngwakas.
This high-profile case highlights the growing threat of financial fraud in Nigeria. The Assistant Inspector General of Police has urged the public to remain vigilant and report any suspicious activities.
Peoplesmind
