Operatives 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 specialised in identifying wealthy traders, luring them with fake commodity supply deals and allegedly dispossessing them of their money and goods.
Police investigators also recovered a list containing 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 prospective victims.
One of the syndicates was also accused of luring a tyre dealer to Aiyetoro-Itele, Ogun State, where he was allegedly held captive until about N24 million was reportedly paid as ransom for his release.
The investigation intensified after members of one of the groups allegedly lured a cloth seller to Ayobo, Lagos, where operatives of the Anti-Kidnapping Unit swooped in and arrested three suspects.
Further investigation reportedly led to the arrest of other members of the two syndicates, who investigators said used different methods but shared the same objective of defrauding traders and other unsuspecting victims.
A police source said the groups deliberately studied traders and prospective investors before approaching them with attractive but fake 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 from Imo State, reportedly told investigators that he joined the syndicate after his second-hand clothing business collapsed.
Nwankwo said he worked as a “caller”, whose job was to identify and approach potential victims before other members of the gang executed the fraud.
He explained that the gang would tell traders that someone needed a large quantity of a particular commodity, usually bicycle spare parts, and persuade them to supply the goods.
According to him, another member, known as the “receiver”, would collect the goods before the gang disappeared.
“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,” he said.
Nwankwo said the gang exploited the desire of some traders to make quick profits.
“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, allegedly admitted allowing the syndicate to use his office for its activities in return for 10 per cent of whatever was obtained from victims.
Obi said he had previously operated a drug store but became involved in fraud after allegedly being deceived by another gang.
He recalled losing N400,000 in 1990 after being tricked in a fake drug transaction involving what he believed were large quantities of drugs, but which turned out to be counterfeit American dollars.
Also, 47-year-old Charles Okeke said he became involved in fraud after allegedly being abandoned in Ghana while attempting to travel abroad.
Okeke, a former shoemaker from Aba, Abia State, said he was taken to Ghana in 2018 by a man who promised to facilitate his journey to Europe or the United States but later abandoned him.
He said he subsequently met other Nigerians and became involved in a fraud scheme under the guise of “washing” money.
Another suspect, 53-year-old Emmanuel Ekenta from Awka, Anambra State, told investigators that his syndicate used “catchers” and “sitters” to gain the confidence of prospective 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 victim that huge profits could be made from selling the supposed goods.
The victim would then allegedly be taken to the gang’s base under the guise of going to inspect the goods, where the fraudsters would introduce a fake dollar-washing business.
Ekenta said a “sitter” would then corroborate the story by pretending to be related to a customs officer who had cleared the supposed goods.
The police also arrested 46-year-old Uchenna Paul, a former foodstuff seller, who reportedly claimed he joined the group after allegedly losing his master’s money while on an assignment to Lagos to purchase stockfish.
The Lagos State Police Public Relations Officer, Abimbola Adebisi, confirmed the arrests.
Adebisi said the Commissioner of Police, Fatai Tijani, remained committed to making Lagos hostile to criminal activities and ensuring that suspects involved in crime were brought to justice.
