The Kwara State Command of the Nigeria Security and Civil Defence Corps (NSCDC), has arrested a suspect Onwucheku Odum Umeh,33, over an alleged N78.3m funding fraud.
The NSCDC disclosed that six traders allegedly misplaced a mixed N78,360,709 to the suspected funding scheme operated by the PXES platform, which reportedly grew to become inaccessible, leaving traders unable to retrieve their funds.
The spokesperson of the state NSCDC, Ayoola Michael Shola confirmed the arrest of the suspected fraudster in an announcement yesterday.
He mentioned Umeh was arrested on October 15,2026 in Ikeja, Lagos State by operatives of the command’s Tracking Unit following intelligence gathering and investigations right into a criticism acquired on September 19, 2026.
Ayoola mentioned preliminary findings traced the account into which the traders paid their cash 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 mentioned the suspect recognized one Khadijat Mamma Yahaya as the one that launched him to the funding association, including that efforts have been ongoing to find her and decide whether or not different people have been concerned.
He urged affected traders to return ahead with financial institution switch receipts, transaction information, cost confirmations and communications with the platform to help investigations and set up the total scale of the alleged fraud.
In a separate operation, the command arrested Oluwafemi Olarewaju, 29, over a suspected cult-related conflict in Ilorin.
The command’s spokesperson mentioned preliminary findings indicated that Olarewaju allegedly went to retaliate following the conflict, whereas different suspected contributors reportedly fled the scene.
He mentioned a regionally fabricated pistol and cell phones have been recovered through the investigation.
The NSCDC mentioned investigations have been ongoing in each circumstances to determine the details and decide the suitable authorized motion in opposition to anybody discovered culpable.
The state Commandant of the NSCDC, Abbas Ndah Mohammed, reaffirmed the command’s dedication to intelligence-led operations in opposition to felony actions and the safety of lives and property throughout the state.
He urged residents to supply well timed and credible info to safety businesses, stressing that public cooperation remained important to crime prevention and efficient legislation enforcement.
He additionally suggested members of the general public to confirm the credibility of funding operators earlier than committing their cash, notably the place the legitimacy of a scheme couldn’t be independently established.
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