Police arrest 16 suspects, recover N3.9bn in Interswitch fraud

The Nigeria Police Force National Cyber Crime Centre has arrested at least 16 suspects for financial fraud against a leading African digital commerce platform,  Interswitch Limited.

The sum of N3.9bn cash and property had so far been recovered from the suspects, with ongoing efforts to recover more.

Reading out the achievements of the police at the Strategic Communications Interagency Policy Committee joint press briefing in Abuja on Monday, the Department of State Services’ spokesperson, Peter Afunanya, said the centre made the arrest and recovery following a petition from Interswitch Limited regarding a glitch on its financial portal.

He added that eight of the suspects had been convicted.

Afunanya said, “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.”

Afunanya also said police in Taraba arrested a notorious kidnapper.

He said, “In a parallel operation, the Special Anti-Kidnapping Squad of Taraba State command arrested a notorious kidnapper, seizing three AK-47 rifles, four magazines, 19 rounds of live ammunition, 23 expended rounds, and five solar panels from his premises.”

He added that police foiled a kidnapped attempt and killed nine kidnappers.

Afunanya said, “Similarly, On July 4, 2024, Lagos State command operatives thwarted an attack by a notorious kidnapping gang. In a fierce gun battle, nine kidnappers were neutralized, and 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 were recovered. Investigations continue to apprehend the fleeing suspects.

“In another notable case, on April 24, 2024, 18-year-old Mallam Adamu Adamu was rescued from captivity in Kasda, Jakusko LGA, Yobe State. Police operatives raided the gang’s enclave, arresting three suspects and recovering two AK-47 rifles and a magazine with 26 rounds of live ammunition. The suspects will be charged to court following the investigation’s conclusion.”