Nigerian Police Arrest 16 in Connection with N3.9 Billion Fraud Against Interswitch

In a significant breakthrough in financial crime enforcement, the Nigeria Police Force’s National Cyber Crime Centre has apprehended 16 individuals linked to a massive fraud scheme against Interswitch Limited, a leading digital commerce platform in Africa. This operation has so far resulted in the recovery of assets worth approximately N3.9 billion, including cash, properties, and vehicles, with ongoing efforts to reclaim additional funds.

The arrests were made following a petition submitted by Interswitch regarding a glitch detected in its financial portal, which raised suspicions of fraudulent activities. During a joint press briefing held in Abuja on August 6, 2024, Peter Afunanya, the spokesperson for the Department of State Services, detailed the police’s swift response that led to the successful operation. He noted, “The Nigeria Police Force National Cyber Crime Centre tackled a massive financial fraud case, acting on a petition from Interswitch Limited regarding a glitch on its financial portal.”

Afunanya further revealed that among the suspects detained, eight have already been convicted for their involvement in the fraudulent activities. He emphasized the importance of the operation, stating, “The swift response led to the arrest of over 16 suspects, and the operation recovered over N3.9 billion in cash, properties, and vehicles, with ongoing efforts to recover additional looted funds.”

In addition to the financial fraud case, Afunanya highlighted other recent police operations that have successfully disrupted criminal activities across Nigeria. In Taraba State, for instance, law enforcement officials arrested a notorious kidnapper, seizing an arsenal of weapons that included three AK-47 rifles, four magazines, and 19 rounds of live ammunition. He explained, “In a parallel operation, the Special Anti-Kidnapping Squad of Taraba State command arrested a notorious kidnapper, seizing arms and ammunition from his premises.”

Moreover, Afunanya reported another major success for the police in Lagos State, where operatives thwarted an attack by a dangerous kidnapping gang. In a dramatic confrontation that resulted in a fierce gun battle, nine kidnappers were neutralized. The police recovered significant weaponry during this operation, including four AK-47 rifles, four locally made semi-automatic pistols, and various ammunition. This operation reflects the ongoing struggles against organized crime in Nigeria, with investigations continuing to locate other suspects involved in the gang.

In a notable case from Yobe State, police operatives successfully rescued an 18-year-old victim, Mallam Adamu Adamu, from a kidnapping gang’s hideout. Following a raid on the gang’s enclave, three suspects were arrested, and two AK-47 rifles were recovered along with a magazine containing 26 rounds of live ammunition. The arrested individuals are expected to face charges once the investigation concludes.

These recent operations underscore the Nigeria Police Force’s commitment to combating financial fraud and violent crime, highlighting the ongoing challenges faced by law enforcement in maintaining security and order in the country. As the police continue their efforts to address these issues, the importance of community vigilance and cooperation with law enforcement remains critical in the fight against crime.

With ongoing investigations and the potential for further arrests, the situation reflects the broader context of Nigeria’s struggle against corruption and criminality, as authorities strive to create a safer environment for all citizens.