The Economic and Financial Crimes Commission (EFCC) has commenced investigations against an Enugu State businessman, Raheem Wasiu, over an alleged $12,000 fraud involving two Bureau de Change (BDC) operators.
38-year-old Wasiu was arrested by operatives of the Nigeria Security and Civil Defence Corps (NSCDC) following a complaint by Ezekulie Chukwuamuanya, a BDC operator who claimed that the suspect defrauded him of $5,000.
Preliminary investigations revealed that Wasiu allegedly rented different Toyota Hilux trucks, posed as a wealthy contractor and moved with escorts to gain the confidence of BDC operators in parts of the South-East.
According to the anti-graft agency on Wednesday, the suspects allegedly used the same pattern to defraud his victims, collecting their dollars after showing them purported naira payment alerts that did not reflect in their bank accounts.
Recounting his experience, Chukwuamuanya said Wasiu collected and counted the $5,000 before requesting his bank details for the naira transfer.
After the suspect allegedly claimed that the payment had gone through, Chukwuamuanya said he waited for the alert but did not receive it.
The victim said Wasiu attributed the delay to possible network problems and asked him to leave, assuring him that the money would eventually arrive.
Chukwuamuanya said he left because he was convinced by the suspect’s appearance and demeanour, but later discovered that Wasiu had allegedly become unreachable.
Another petitioner, Nwaoha Ubaferem, a BDC operator based in Owerri, Imo State, also alleged that Wasiu defrauded him of $7,000.
Ubaferem said he initially had $2,600 but contacted his office to provide an additional $4,400 after Wasiu requested $7,000.
He alleged that after collecting the money, the suspect initiated what appeared to be a bank transfer, called his name and informed him that the transaction had been completed.
The petitioner said he continued waiting for the payment alert, which allegedly never arrived.
The two allegations amount to $12,000, comprising the $5,000 allegedly obtained from Chukwuamuanya and the $7,000 allegedly obtained from Ubaferem.
Further investigations, according to the EFCC, indicated that Wasiu may have used the same method in other locations, with the suspect allegedly travelling across the South-East and Akwa Ibom State to target BDC operators.
The agency also recovered several items from the suspect, including a Toyota Hilux truck with registration number KTR 379 AA, Akwa Ibom, various bank ATM cards, bank transfer tokens, a digital National Identification Number slip bearing the name Sunday Abiodun, and two complimentary cards identifying him as Engineer Abiodun.
Other recovered items include an Emporio Armani designer bag, an iPhone 17 Pro Max, a Samsung phone, a 4G pocket Wi-Fi, a Patek Philippe wristwatch, vehicle documents, a gold bangle and a pair of Alexander McQueen shoes.
The EFCC said the recovered items are part of its ongoing investigation as operatives work to establish the full extent of the alleged scheme and determine whether other BDC operators may have been defrauded.
The anti-graft agency said Wasiu would be charged to court upon the conclusion of investigations.