Police arrest fraud syndicate targeting 125 Lagos traders - Punch Newspapers

Operatives of the Anti-Kidnapping Unit of the Lagos State Police Command have arrested six suspected members of two fraud syndicates allegedly targeting traders and successful business operators in major markets across the state. The suspects reportedly operated a network that identified prospective victims, lured them with fake commodity supply deals and allegedly dispossessed them of their money. Saturday PUNCH gathered that the police also recovered a list containing the details of more than 125 traders and business operators in major Lagos markets, including Oshodi, Arena, Idumota, Alaba and Trade Fair, who were allegedly marked as potential targets by one of the syndicates. One of the gangs was also accused of luring a tyre merchant to the Aiyetoro-Itele area of Ogun State, where he was allegedly held captive until about N24m was reportedly paid as ransom for his release. The syndicate’s operation reportedly came under police scrutiny after its members lured a cloth seller to the Ayobo area of Lagos, where operatives of the Anti-Kidnapping Unit swooped on them and arrested three suspects. The arrests subsequently led to the apprehension of other members of the two syndicates, who investigators said employed different methods but shared the same objective of defrauding traders and other unsuspecting victims. A police source told Saturday PUNCH that the groups deliberately studied traders and prospective investors before approaching them with seemingly lucrative business propositions. “The two groups use different tactics, but their mode of operation is that they target prospective investors or traders but end up defrauding them in the process,” the source said. One of the suspects, 61-year-old Patrick Nwankwo, who hails from Imo State, reportedly told investigators that he joined the gang after his second-hand clothing business collapsed. Nwankwo said he worked as a “caller”, whose responsibility was to identify and approach potential victims before other members of the syndicate executed the fraud. “I started as a ‘caller’. A caller is a person who goes out to identify and speak with our prospective victims. We identify businessmen. “After this, we lie to them that someone needs a large supply of a particular commodity and for them to supply. We usually use bicycle spare parts as the needed commodity,” he said. He explained that after the victims delivered the goods, another member of the gang, known as the receiver, would collect them before the syndicate disappeared. “Another member of the gang will serve as the receiver. Once they supplied those items to him, we will disappear from that address,” Nwankwo said. The suspect disclosed that the gang operated from Ogun State but deliberately targeted traders in major Lagos markets. Nwankwo also admitted that the gang relied on victims’ desire to make quick money to convince them. “Our base is in Ogun State, but we target businessmen at popular markets, including Oshodi, Arena, Idumota, Alaba and Trade Fair Market. We already have our targets and what they sell. “We don’t pray for gullible people to finish. Gullible people cannot finish in Nigeria. They want to get very rich quick, and we take advantage of that,” he said. Another suspect, 60-year-old Emeka Obi, said he previously worked as a “caller” but had become too old to participate actively in the operation. According to him, he allowed the gang to use his office for its activities and received 10 per cent of whatever they obtained from victims. Obi said he initially operated a drug store before he was allegedly defrauded by another gang. “I was operating a drug store, but I was duped by a gang. When I got back to the same people who duped me, they asked me to join them, and I did,” he said. CP summons officer after Lagos man alleges assault, extortion Ogun community laments 18-months blackout Works ministry declares Ogun bridge safe He recalled losing N400,000 in 1990 after being deceived in a fake drug transaction involving what he was told were large quantities of drugs. “After serving my boss for six years and having my own shop, somebody told me that they had drugs in large quantity. But when I got to where I was to get the drugs, I saw a large quantity of American dollars. I didn’t know that they were fake,” Obi said. Forty-seven-year-old Charles Okeke, another suspect, said he joined the fraud business after allegedly being abandoned in Ghana while trying to travel abroad. Okeke, who was previously a shoemaker in Aba, Abia State, said he was taken to Ghana in 2018 by a man who promised to help him travel to Europe or the United States but later abandoned him. He said he subsequently met other Nigerians and became involved in fraud under the guise of washing money. “I started looking for something to do. I met some Nigerians. I was doing shoemaking and the money was nothing to write home about. “I met a boy, Chukwudi, and a Ghanaian, Jojome. They invited me to join them, and we duped people under the guise of washing money for them,” he said. Okeke said he later returned to Nigeria following the death of his mother and remained in the country after his family advised him against returning to Ghana. He added that hardship, including the departure of his wife with their two children, contributed to his decision to continue with fraud. Another suspect, 53-year-old Emmanuel Ekenta, an indigene of Awka, Anambra State, said he was formerly a successful businessman exporting plates to Ghana before he was allegedly defrauded at the Togo border in 2006. Ekenta said his experience eventually led him into the same criminal activity. He explained that his syndicate used a “catcher” and a “sitter” to gain the confidence of victims. According to him, the catcher would pose as a sailor or foreigner who had just arrived in Lagos with goods for sale and convince the prospective victim that huge profits could be made from selling the goods. He said the victim would subsequently be taken to the gang’s base, where the fraudsters would introduce the person to a fake dollar-washing business. “What we do is that one of us, usually the catcher, will pose as a sailor and a foreigner who just arrived in Lagos with goods for sale. “We then tell our prospective victim that she would make huge money by selling these non-existent goods. “After agreeing to sell the goods, the catcher will pretend to take them to the place where the goods are kept but instead take them to our base, where we introduce them to the dollar-washing business,” he said. Ekenta added that a “sitter” would corroborate the catcher’s story by pretending to be related to a customs officer who cleared the supposed goods. Also arrested was 46-year-old Uchenna Paul, a former foodstuff seller, who claimed that he joined the group after he was allegedly defrauded of his master’s money while on an assignment to Lagos to buy stockfish. The Lagos State Police Public Relations Officer, Abimbola Adebisi, confirmed the arrest of the suspects. Adebisi reiterated the commitment of the Commissioner of Police, Fatai Tijani, to making Lagos uninhabitable for criminals and bringing those involved in criminal activities to justice. Dayo Oyewo Dayo is a journalist at Punch Newspapers with over nine years of experience covering politics, entertainment, crime, and environmental conservation. His reporting blends advocacy and accountability journalism, focusing on stories that inspire awareness and social change. Dayo’s work reflects practical newsroom experience and a strong commitment to public-interest reporting.

All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.

Stay informed and ahead of the curve! Follow The Punch Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don't miss a headline – join now!

Stay in the know—fast. Get instant alerts, breaking headlines, and exclusive stories with the Punch News App. Download now and never miss a beat.