EFCC Grills Fake Contractor Over $12,000 BDC Scam in South-East

​ENUGU — The Economic and Financial Crimes Commission (EFCC) is detaining a 38-year-old serial fraudster, Raheem Abiodun Wasiu, for allegedly orchestrating sophisticated currency scams targeting Bureau De Change (BDC) operators across the South-East and Akwa Ibom State to the tune of $12,000.

​Wasiu’s arrest followed a collaborative breakthrough involving the Nigeria Security and Civil Defence Corps (NSCDC) and the Enugu Zonal Directorate of the EFCC. The suspect was initially apprehended following a petition by an Enugu-based BDC operator, Ezekulie Stanley Chukwuamuanya, who claimed he was duped of $5,000.

​Investigators uncovered a high-profile modus operandi. The suspect routinely rented Toyota Hilux trucks, hired private escorts, and projected the persona of a wealthy, affluent contractor to disarm his victims. By leveraging this faux prestige, he approached currency traders, requested heavy dollar exchanges, and executed fraudulent transactions using simulated bank transfers accompanied by fake Naira alert confirmations.

​Detailing his encounter, Chukwuamuanya stated that the suspect physically counted the cash and requested his banking credentials. “After giving him my account number, he mentioned my name that popped up on his bank application, and I confirmed it,” the petitioner recalled. “The next thing he told me was that it had gone through. I waited for the alert to come to no avail, but because of his personality and apparent rush, I left.” Wasiu reportedly cut off all communication shortly after.

​A second petitioner, Chief Nwaoha Ubaferem from Owerri, Imo State, fell victim to a $7,000 variation of the same scheme. Ubaferem noted that after pooling funds from his office to meet the suspect’s cash demand, Wasiu rushed him to a secondary location on Royce Road before executing the same fake-transfer routine.

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​EFCC intelligence indicates that Wasiu’s fraudulent footprint spans several states in the region, including Akwa Ibom.

​During the sting operation and subsequent searches, authorities recovered a cache of luxury items and operational tools used to project wealth and facilitate the crimes. Recovered assets include a Toyota Hilux truck bearing registration number Akwa Ibom KTR 379 AA, multiple ATM cards, digital tokens, a digital National Identification Number slip bearing the alias Sunday Abiodun, and professional complimentary cards identifying him as “Engineer Abiodun.”

​Investigators also seized high-end lifestyle items, including an iPhone 17 Pro Max, a Samsung smartphone, a 4G pocket Wi-Fi router, a Patek Philippe wristwatch, a gold bangle, an Emporio Armani designer bag, and Alexander McQueen footwear.

​The anti-graft agency confirmed that Wasiu will be arraigned in court immediately upon the conclusion of ongoing investigations.