The Lagos Zonal Command of the Economic and Financial Crimes Commission (EFCC) has apprehended Chike Agada, an unlicensed foreign exchange trader, on allegations of a 2 billion Naira fraud.
According to an official statement from the EFCC, Chike Agada, a 37-year-old individual originally from Udi Local Government Area in Enugu State, had been previously announced as a wanted individual by the Commission on October 11, 2023. The charges against him included the alleged acquisition of funds under pretenses and misappropriation totaling 2 billion Naira.
In a well-coordinated operation conducted by the Commission’s operatives, Chike Agada was apprehended at a residence located in the Bourdillon area of Ikoyi, Lagos, on October 16, 2023. This action was taken based on credible intelligence linking him to the aforementioned financial misconduct.
Upon his apprehension, law enforcement recovered a mobile device in his possession.
The EFCC has stated that he will be brought before the court once the investigative process is completed.