N446.5m Fraud: EFCC Remands BDC Operator in Awka Over Alleged Forgery
The Economic and Financial Crimes Commission (EFCC) has arraigned a Bureau De Change operator, Chidiebere Christian Okeke, over an alleged N446.5 million fraud involving funds meant for a business transaction in China.
Okeke appeared before Justice Evelyn Anyadike of the Federal High Court, Awka, Anambra State, alongside two companies, Paderlambs Investment Limited and Ishiugbo Nigeria Limited.
The Enugu Zonal Directorate of the EFCC brought the defendant before the court on a three-count charge bordering on obtaining money by false pretence and forgery.
According to the Commission, the defendant allegedly received N446,579,629 from Izuchukwu Okeke, Managing Director of Alphard Candy and Sons Limited, with a promise to transfer the equivalent amount in Chinese currency, Renminbi (RMB), to the petitioner’s business partner in China.
The EFCC alleged that the funds were first paid into the account of Nwadili David Chukwuka, a BDC operator doing business as Ifeabata Ventures, before being transferred to the accounts of the two companies linked to the defendant.
The Commission further alleged that the defendant falsely represented that the RMB equivalent of the money had been remitted to the intended beneficiary in China.
In the third count, Okeke was accused of making forged telex documents purportedly originating from JCI General Trading Pty Limited, Brisbane, Australia, knowing that the documents were false.
The alleged offences are punishable under the Advance Fee Fraud and Other Fraud Related Offences Act, 2006, and the Miscellaneous Offences Act, 2004.
When the charges were read to him, the defendant pleaded not guilty.
EFCC counsel, ACE II Michael Ikechukwu Ani, subsequently asked the court to fix a date for trial and remand the defendant at the Nigerian Correctional Service facility in Awka.
The court adjourned the case to November 19, 2026, for the hearing of the bail application, while ordering that Okeke remain in NCoS custody.
The Commission explained that the case originated from a petition by Izuchukwu Okeke, who alleged that he provided the funds between September and November 2023 for onward transfer to his business partner in China.
The petitioner reportedly said Nwadili David Chukwuka informed him that the money had been handed over to Chidiebere for the transaction.
However, when questioned about the funds, Chidiebere allegedly acknowledged receiving the money but failed to complete the transfer, instead issuing a cheque to refund the amount.
The EFCC said the defendant was eventually handed over to the Commission by the Department of State Services on October 30, 2024, for investigation.
