EFCC investigates man over $12,000 BDC fraud in Enugu

The Economic and Financial Crimes Commission has commenced investigation into a 38-year-old man, Raheem Abiodun Wasiu, over an alleged $12,000 fraud involving Bureau de Change operators in the South-East.

Wasiu was arrested by operatives of the Nigeria Security and Civil Defence Corps following a complaint by a BDC operator, Ezekulie Stanley Chukwumuanya, who alleged that the suspect defrauded him of $5,000.

According to the EFCC, preliminary investigations indicated that Wasiu allegedly posed as a wealthy contractor to gain the confidence of BDC operators before collecting their dollars and presenting them with fake naira transfer alerts.

The commission said the suspect allegedly rented different Toyota Hilux vehicles, moved around with escorts and targeted BDC operators in parts of the South-East and Akwa Ibom State.

Narrating his experience, Chukwumuanya said he handed over the $5,000 to Wasiu after the suspect had counted and confirmed the money.

He said Wasiu subsequently requested his bank details and claimed that the naira equivalent had been transferred.

Chukwumuanya said he waited for the transaction alert but did not receive one, adding that Wasiu attributed the delay to a network problem and asked him to leave.

The petitioner alleged that the suspect subsequently became unreachable.

Another petitioner, Chief Nwaoha Ubaferem of Owerri, Imo State, accused Wasiu of defrauding him of $7,000.

Ubaferem said he initially had $2,600 and contacted his office to provide an additional $4,400 after Wasiu requested $7,000.

According to him, Wasiu later collected the money, allegedly claimed that the transfer had been completed and called his name after initiating the purported transaction.

Ubaferem said he continued waiting for the expected bank alert but did not receive it.

The EFCC said further investigation showed that Wasiu allegedly travelled across several states, including locations in the South-East and Akwa Ibom, using a similar method to target BDC operators.

Items reportedly recovered from the suspect include a Toyota Hilux truck with registration number KTR 379 AA, several bank ATM cards, transfer tokens, a digital National Identification Number slip bearing the name Sunday Abiodun and two complimentary cards bearing the name 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 Wasiu would be charged to court after the completion of investigations.