N320m Fraud: Police Arraign Couple Operating Unlicensed BDC

The police in Lagos State have arraigned a couple, Chinedu Ngwaka and his wife, Janet Onyekachi, before the Federal High Court in the state over allegations of operating an illegal Bureau de Change and N320 million fraud.

The couple were docked before Justice Alexander Owoeye on a four-count charge of conspiracy, obtaining money by false pretence, forgery and fraud by officers from the Force Criminal Investigation Department (FCID).

The police prosecutor, Morufu Animashaun, had informed the court of an amended charge against the defendants, which he explained followed the arrest of the second defendant, Chinedu Ngwaka, who was not present when his wife was initially arraigned.

After the prosecutor’s submission, the judge allowed the amended charge to be read to the defendants, enabling them to enter a plea.

The couple and others, now at large, were accused of conspiring to defraud a company, Casco Electronics Company Limited, and a businessman, Tochukwu Unachukwu, of N320 million.

The police also claimed that the defendants deceived the company and the businessman by pretending to operate a Bureau de Change and claiming they could send money to his partners in China.

Chinedu Ngwaka was accused of forging a presidential plate number, 02B 679 FG, and a Federal Government establishment’s identity card bearing the name, Dr Chinedu Ngwaka.

He also allegedly claimed to be a consultant for the Federal Ministry of Labour and Employment and asserted that the identity card was issued to him by the Head of Civil Service of the Federation.

According to the prosecutor, the alleged offences are contrary to sections 8 (a) and 1 (1) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006 (As Amended) and punishable under Section 1 (3) of the same Act, as well as Sections 484 and 467 of the Criminal Code Act, Cap C38, Laws of the Federation, 2004.”

The defendants, however, pleaded not guilty to the charges.

Following their plea, the prosecutor requested a trial date and urged the court to remand the defendants in the custody of the Nigerian Correctional Services (NCoS) facility.

However, the defence lawyer urged the court to remand the defendants at the police facility pending the hearing and determination of their bail applications.

The prosecutor opposed this application, who said that the police facility was overcrowded.

After listening to the lawyers, Justice Owoeye ordered that the couple be remanded at the Kirikiri and Ikoyi centres of the NCoS and adjourned the matter to February 3 to rule on the first defendant’s bail application.