Police arrest fraud syndicate targeting 125 Lagos traders

The Lagos State Police Command has arrested six members of two fraud syndicates targeting traders and business operators in the city. The suspects allegedly used fake commodity supply deals to lure victims into parting with their money. They identified potential targets, approached them with attractive business proposals, and then stole the victims' cash.

The police discovered that one of the syndicates had a list of over 125 traders in key Lagos markets, including Oshodi, Arena, Idumota, Alaba, and Trade Fair. One group allegedly lured a tyre merchant from Ogun State to Lagos, where he was held captive until ransom was paid. The operation was exposed after the gang approached a cloth seller in Ayobo, Lagos, leading to the arrest of three suspects.

Police sources revealed that the groups studied traders before approaching them with fraudulent business deals. One suspect, Patrick Nwankwo, 61, from Imo State, said he joined the gang after his second-hand clothing business failed. He claimed they used bicycle spare parts as the desired commodity. Another suspect, Emeka Obi, 60, admitted to initially operating a drug store before joining the gang. He worked as a "caller" and received 10% of the proceeds from defrauded victims.