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Mr Wasiu, the arrested suspect (PHOTO - EFCC)

Mr Wasiu, the arrested suspect (PHOTO - EFCC)

How man allegedly defrauded BDC operators of $12,000 – EFCC

The EFCC said further investigation revealed that the suspect has toured the South-east and Akwa Ibom State in South-south, using a similar pattern to allegedly defraud BDC operators.

byChinagorom Ugwu
August 25, 2026
Reading Time: 2 mins read
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The Economic and Financial Crimes Commission (EFCC) has arrested and interrogated a 38-year-old man, Raheem Wasiu, accused of defrauding Bureau De Change (BDC) operators in the South-east of $12,000.

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In a statement posted on its Facebook page on Monday, the EFCC said operatives of the Nigeria Security and Civil Defence Corps (NSCDC) arrested the suspect, Mr Wasiu, and handed him over to the anti-graft agency’s Enugu Zonal Directorate.

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The commission said the NSCDC operatives initially arrested Mr Wasiu in response to a petition from a BDC operator, Stanley Ezekulie, who accused the suspect of defrauding him of $5000.

During the investigation, the EFCC said its findings showed the suspect had defrauded others using the same strategy.

“In the course of investigation by operatives of the EFCC, it was discovered that the suspect rents different Toyota Hilux trucks, disguises himself as a wealthy contractor, moves with escorts and meets BDC operators in the south-east and allegedly tricks them into parting with their hard-earned money, by presenting fake alerts in naira to them, after collecting their money,” the statement reads in part.

The commission said one of the petitioners, Mr Ezekulie, narrated how the suspect scammed him.

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“I gave him the dollar, and he counted it by himself. After confirmation, he then asked for my bank details. After giving him my account number, he mentioned my name, which popped up on his bank application. I confirmed it.

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“The next thing he told me was that it had gone through, which I waited for the alert to come, to no avail. Because of time, he asked me to go and that I would get it, that it could be network issues, and I left because of his personality,” the commission quoted the BDC operator as saying.

The petitioner, according to the statement, alleged that soon after, the suspect went incommunicado.

The EFCC said another petitioner, Nwaoha Ubaferem, who is based in Owerri, Imo State, equally alleged that Mr Wasiu defrauded him of $7,000.

Mr Ubaferem narrated: “The dollar on me was $2,600, then I called my office to bring an additional $4,400 to me to complete it as he requested for $7,000.

READ ALSO: EFCC arraigns man for N56.5 million Hajj fraud

“As we were waiting, he complained that he was running late and we decided to move to Royce Road from Port Harcourt Road, where he finally collected the money from me, resumed the transfer, called my name and informed me that the transfer had gone, which I believed but continued to expect an alert from him.”

The EFCC said further investigation revealed that the suspect has toured the South-east and Akwa Ibom State in the South-south, using the same pattern to allegedly defraud BDC operators.

A Hilux truck, Automated Teller Machine cards from various banks, different bank transfer tokens, and a digital National Identification Number slip bearing the name Sunday Abiodun were among the items recovered from him, the agency said.

Others were two complimentary cards with the name Engineer Abiodun, a designer bag, one iPhone 17 Promax, a Samsung phone, 4G internet pocket MIFI, a Patek Philip wrist watch, vehicle particulars, a gold bangle and a pair of shoes.

“The suspect will be charged in court as soon as investigations are concluded,” the EFCC added.

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