Kwara NSCDC Nabs Suspect Over N78.3m Investment Fraud

The Kwara State Command of the Nigeria Security and Civil Defence Corps (NSCDC), has arrested a suspect Onwucheku Odum Umeh,33, over an alleged ₦78.3million investment fraud.

The NSCDC disclosed that six investors allegedly lost a combined ₦78,360,709 to the suspected investment scheme operated through the PXES platform, which reportedly became inaccessible, leaving investors unable to retrieve their funds.

The spokesperson of the state NSCDC, Ayoola Michael Shola confirmed the arrest of the suspected fraudster in a statement on Thursday.

He said Umeh was arrested on October 15,2026 in Ikeja, Lagos State by operatives of the command’s Tracking Unit following intelligence gathering and investigations into a complaint received on September 19, 2026.

Ayoola said preliminary findings traced the account into which the investors paid their money to the suspect.

” Investigators also reportedly established a link between the PXES platform and Ragekay Global Investment Limited, with a substantial portion of the funds traced to the company’s account,” he added.

The Command’s spokesperson said the suspect identified one Khadijat Mamma Yahaya, as the person who introduced him to the investment arrangement, adding that efforts were ongoing to locate her and determine whether other individuals were involved.

He urged affected investors to come forward with bank transfer receipts, transaction records, payment confirmations and communications with the platform to assist investigations and establish the full scale of the alleged fraud.

In a separate operation, the Command arrested Oluwafemi Olarewaju, 29, over a suspected cult-related clash in Ilorin.

The Command’s spokesperson said preliminary findings indicated that Olarewaju allegedly went to retaliate following the clash, while other suspected participants reportedly fled the scene.

He said a locally fabricated pistol and mobile phones were recovered during the investigation.

The NSCDC said investigations were ongoing in both cases to establish the facts and determine the appropriate legal action against anyone found culpable.

The state Commandant of the NSCDC, Abbas Ndah Mohammed, reaffirmed the Command’s commitment to intelligence-led operations against criminal activities and the protection of lives and property across the state.

He urged residents to provide timely and credible information to security agencies, stressing that public cooperation remained essential to crime prevention and effective law enforcement.

He also advised members of the public to verify the credibility of investment operators before committing their money, particularly where the legitimacy of a scheme could not be independently established.