The Economic and Financial Crimes Commission (EFCC), Enugu Zonal Directorate, has launched a full investigation into the activities of 38-year-old Raheem Abiodun Wasiu, accused of defrauding Bureau De Change (BDC) operators across the South-East and Akwa Ibom State with an alleged $12,000 scam. The suspect is being probed for posing as a wealthy contractor and using fake bank alerts to deceive victims after collecting their foreign currency. He was arrested by operatives of the Nigeria Security and Civil Defence Corps (NSCDC) following complaints from two BDC operators who lost a combined $12,000.
According to the EFCC, Wasiu allegedly rented multiple Toyota Hilux trucks and moved around with escorts, projecting an image of affluence to gain the trust of his victims. He would approach BDC operators, present himself as a high-net-worth individual, and request large sums of foreign currency for supposed payments. After receiving the money, he would show fake naira payment alerts on his phone, claiming the transfer had been completed, only to disappear afterward.
Ezekulie Stanley Chukwuamuanya, one of the complainants, recounted how Wasiu collected $5,000 from him in Enugu. “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 that popped up on his bank application; I confirmed it. The next thing he told me was that it had gone through, which I waited for the alert to come, to no avail,” Chukwuamuanya said. He added that the suspect urged him to leave due to time constraints, citing possible network issues, and became unreachable afterward.
Another victim, Chief Nwaoha Ubaferem from Owerri, Imo State, claimed Wasiu defrauded him of $7,000. Ubaferem explained that he initially had $2,600 and arranged for an additional $4,400 to be brought to him. They relocated from Port Harcourt Road to Royce Road in Enugu, where Wasiu collected the money and again displayed a fake alert, stating the transfer was successful. Despite waiting for confirmation, Ubaferem received no notification from his bank.
The EFCC stated that Wasiu’s modus operandi involved traveling across the South-East and Akwa Ibom State, targeting BDC operators using the same deceptive tactics. Items recovered from him include a Toyota Hilux truck (KTR 379 AA, Akwa Ibom), several ATM cards, bank transfer tokens, a digital National Identification Number slip under the name Sunday Abiodun, and luxury items such as an iPhone 17 Pro Max, a Samsung phone, a Patek Philippe wristwatch, an Emporio Armani bag, a gold bangle, Alexander McQueen shoes, and a 4G pocket Wi-Fi device.
The EFCC also found two complimentary cards bearing the name Engineer Abiodun, suggesting the suspect used aliases to conceal his identity. The commission has vowed to charge Wasiu in court once investigations are concluded. This case highlights growing concerns over financial fraud involving BDC operators, especially as criminals exploit trust and technology to carry out scams. Authorities urge the public to remain vigilant and verify all transactions before releasing funds.
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