Police Arrest Six in Lagos Trader Fraud Syndicate

The Anti-Kidnapping Unit of the Lagos State Police Command arrested six suspected members of two fraud syndicates that targeted traders and successful business operators in major Lagos markets. The suspects allegedly operated a network that identified potential victims and lured them with fake commodity supply deals, resulting in financial losses.

Police recovered a list with details of over 125 traders marked as targets in markets such as Oshodi, Arena, Idumota, Alaba, and Trade Fair. One gang reportedly held a tyre merchant captive in Ogun State until a ransom of about N24 million was paid.

The operation came under police scrutiny after a cloth seller was lured to Ayobo, leading to the arrest of three suspects. One suspect, 61-year-old Patrick Nwankwo from Imo State, admitted to being a "caller" who identified victims, claiming the gang exploited victims' desire for quick profits.

The syndicate operated from Ogun State while targeting traders in Lagos.