An unlicensed foreign exchange broker named Chike Nosa Agada was taken into custody by agents from the Lagos Zonal Command of the Economic and Financial Crimes Commission, often known as the EFCC, in connection with an alleged fraud involving N2 billion.
Agada, a 37-year-old native of the Udi Local Government Area of Enugu State, was declared wanted by the Commission on Wednesday, October 11, 2023, for stealing by conversion to the tune of N2 billion and collecting money under false pretenses.
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On Monday, October 16, 2023, during a sting operation conducted by operatives of the Commission, he was taken into custody at a residence in the Bourdillon, Ikoyi neighborhood of Lagos. This was as a result of credible intelligence linking him to the alleged fraud.
During the course of his arrest, a mobile device was discovered on his person.
In addition, the commission stated that legal action against him will be taken as soon as the investigations were wrapped up.
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