‘Wonder bank’ owner arrested for alleged N4 billion fraud

EFCC Operatives
EFCC Operatives

Following over a hundred petitions from across the country on the nefarious activities of an alleged Wonder bank , “Lets Partner With You Ltd”, the Economic and Financial Crimes Commission, EFCC on Thursday September 6, 2016 arrested its Managing Director, Patrick Nwokike, at his residence in Enugu, Enugu State.

Petitions from Nigerians across religious, gender, ethnic, economic and social strata indicate that the company had over the past five years solicited and obtained deposits of more than N4,000,000,000 (Four Billion Naira Only) from the general public with promise of mouth watering interest in return.

According to investigations conducted by the Commission, the company has no license to solicit and manage funds for the public nor was it registered with the Securities and Exchange Commission, SEC or the Nigeria Deposit Insurance Corporation, NDIC.

Further investigations revealed that the company had, for some time, paid a 10 per cent (ten per cent) interest on invested capital but suddenly stopped and all efforts by depositors to have at least their initial investments returned were futile.

Many of the complainants alleged that the operators of the scheme especially Mr. Nwokike not only live very flamboyant lifestyles but acquired several personal asset as well as using their deposits for philanthropic enterprise.

The company was found to have over six accounts in about four banks with the chief executive of “Lets Partner With You Ltd” and his wife being the only signatories to the accounts.

In his statement, Mr. Nwokike who acknowledged that depositor’s funds with his company was about N4,000,000,000 (Four Billion Naira Only), denied operating both money lending and investment business as alleged by the petitioners.

He stated that his company was into a partnership business, which receives money from interested partners who desire interest over a period of time.

Investigation into the alleged fraud continues.


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  • amazing2012

    …in the first place why should such company exist for those years undetected ? And now there are still such type of companies operating and no one challenge them until they also dupe people then you will come out to be talking rubbish as effort.

  • Ayantola Timothy

    Please EFCC help us recover our money from FADAMA Multipurpose Cooperative in Jos THEY refused To pay our Investment back to us running into Billions of Naira. Many of us took bank loan to invest they should please pay us back

    • Julius

      The 1st mistake you made was not checking the name of the owner. Now you know.

  • walter enang

    MMM Nigeria should be banned,fast.