Nigerian Police Accused of N6 Million Extortion from Bureau De Change Operator  

The Force Criminal Investigation and Intelligence Department (FCIID) in Alagbon, Lagos State, has been accused of extorting N6 million from Mr. Chinedu Ngwaka, a licensed Bureau De Change (BDC) operator, during his two-week detention for alleged fraud.

Ngwaka, arrested following complaints from customers about unfulfilled currency transactions, was detained at Alagbon Police Station. According to sources from the National Human Rights Commission (NHRC), Ngwaka paid N3 million on September 24, 2024, and another N3 million on September 28, allegedly to secure his release.

Ngwaka and his wife, Uchenna, are established BDC operators who conduct foreign currency transactions for clients. The trouble began when an agent, Mrs. Titilayo Eboh, reportedly provided Ngwaka with a fake telex receipt, which he unknowingly forwarded to his customers. When the transactions failed, customers filed complaints with the police and other authorities.

Eboh, accused of defrauding multiple BDC operators of over N9 billion, had been previously arraigned by the Economic and Financial Crimes Commission (EFCC) on charges of money laundering, foreign exchange malpractice, and obtaining money under false pretenses. Despite signing an undertaking and issuing a cheque to cover the owed sums, no restitution was made to Ngwaka’s clients.

According to an NHRC official, police investigators seized Ngwaka’s vehicle, blocked his and his wife’s bank accounts, and demanded payments to secure his release. After the first N3 million payment, Ngwaka was re-arrested following a fresh petition and detained for four more days, during which another N3 million was allegedly extorted from his family.

“Instead of releasing him after their investigation, the IPO collected N3 million from his family. Then, as he was leaving the police station, he was re-arrested and detained for another four days, during which another N3 million was demanded,” the NHRC official said.

The NHRC has launched an investigation into the matter, and police officers, including the Commissioner of Police for Fraud Investigation, Simon, and the Investigating Police Officers (IPOs) involved, have been questioned.

The Public Relations Officer of Alagbon Police Station, ASP Mayegun Aminat, denied knowledge of the alleged extortion. Aminat suggested that if any money exchanged hands, it was likely a bribe to cover up fraud allegations. She further claimed that Ngwaka is a “serial fraudster” wanted by both the EFCC and the Intelligence Response Team (IRT) in Abuja.

Aminat asserted that Ngwaka had never reported to the EFCC or IRT and that his details had been published online as a wanted individual.

EFCC spokesperson Dele Oyewale confirmed that Eboh had been arraigned for her alleged role in defrauding BDC operators, including Ngwaka. The EFCC is reportedly monitoring the ongoing case and is prepared to include any new allegations in amended charges.

The alleged extortion has sparked widespread condemnation. Critics argue that such practices undermine public trust in law enforcement and highlight systemic issues within Nigeria’s policing and judicial processes.

The case remains under investigation by the NHRC, while calls for accountability and justice for the affected parties continue to grow.