The police in Abuja have launched an investigation into the transfer of approximately N1 billion by Shamsudeen Ahmed, a bureau de change operator, to suspected criminals who promised to sell him $1 million from Dubai. The funds were transferred through three banks, but the money has since vanished under suspicious circumstances.
Detectives are examining the involvement of an unnamed third-generation bank in the illicit transfer after the suspects provided account details for four different banks where the complainant deposited the money, only to later discover he had been defrauded.
In a petition to the Inspector General of Police, written on behalf of the complainant by Anthony Odule, it was alleged that on December 8, 2023, the suspects—Gambo Dahiru, Ibrahim Mohammed, Shaibu Mohammed, and Francis Azubuike (aka Frank)—deceived Ahmed into believing they had a legitimate $1 million for sale from Dubai. Ahmed, trusting the deal, indicated his interest and proceeded with the transaction.
The petition detailed the bank accounts involved:
– **Usman Global Investment Limited**, Account Number: 5400393231
– **Yadiz Oil and Gas Plc Nigeria Limited**, Account Number: 1014396770
– **M. Technology Red Set**, Account Number: 5404168804
Ahmed transferred N830 million, N330 million, and N10 million, respectively, to these accounts. Upon realizing the scam, Ahmed found that the suspects had no dollars to deliver and had conspired to defraud him, splitting the money among themselves.
Distressed by the loss, Ahmed, who had borrowed part of the money, immediately alerted all the banks involved, requesting them to stop the payments and refund his money. One of the banks promptly returned part of the funds, but the third-generation bank refused, claiming the account holders asserted they had provided value for the money—a claim Ahmed denies. Despite his requests, the bank has neither returned the funds nor frozen the account.
Police sources confirmed that detectives would soon question officials from the implicated bank. Six suspects have been arrested, and some funds have been recovered, but the money transferred through the third-generation bank remains unrecovered.
Attempts to reach the third-generation bank’s Cooperative Affairs Manager for comment were unsuccessful as calls went unanswered.
