Police Arrest 16 Suspects, Recover N3.9Bn in Interswitch Fraud

Nigeria Police Force National Cyber Crime Centre has apprehended 16 suspects in connection with a financial fraud involving Interswitch Limited, a major African digital commerce platform, recovering N3.9 billion in cash and property from the suspects, with ongoing efforts to recover additional funds.

At a joint press briefing on Monday in Abuja, Peter Afunanya, spokesperson, Department of State Services (DSS)  detailed the police’s achievements.

He explained that the arrests and recoveries followed a petition from Interswitch Limited regarding a malfunction on its financial portal.

Afunanya noted that eight of the suspects have already been convicted, stating, “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.

“The swift response led to the arrest of over 16 suspects, eight of whom have been convicted. The operation recovered over 3.9 billion naira in cash, properties, and vehicles, with ongoing efforts to recover additional looted funds.”

In other operations, the police in Taraba State arrested a notorious kidnapper, seizing three AK-47 rifles, four magazines, 19 rounds of live ammunition, 23 spent rounds, and five solar panels from his property.

Afunanya also reported that Lagos State command operatives thwarted a kidnapping attempt on July 4, 2024, killing nine kidnappers and recovering significant weaponry including four AK-47 rifles, four locally-made semi-automatic pistols, nine AK-47 magazines, three walkie-talkies, a POS machine, a loudspeaker, and two operational vehicles. Investigations are ongoing to capture the remaining suspects.

Additionally, on April 24, 2024, police rescued 18-year-old Mallam Adamu Adamu from captivity in Kasda, Jakusko LGA, Yobe State. During the raid, three suspects were arrested, and two AK-47 rifles along with a magazine containing 26 rounds of live ammunition were recovered. The suspects will face charges upon completion of the investigation.