NSCDC arrests suspects over alleged investment fraud, cult-related case

The Nigeria Security and Civil Defence Corps, NSCDC, Kwara State Command, has arrested two persons involved in different offences of alleged N78.4 million PXES investment fraud and a cult-related case.

ASC Ayoola Michael Shola, Command's Public Relations Officer, Kwara State Command, said operatives also recovered a locally fabricated pistol and mobile phones in one of the arrests.

According to the statement, a suspected fraudster, 33-year-old Onwucheku Odum Umeh, was involved in alleged investment fraud involving the PXES investment platform.

It said the suspect was apprehended at about 12 noon on the 15th of October 2026 in Ikeja, Lagos State, by operatives of the Command’s Tracking Unit following investigative and intelligence-gathering efforts.

"The complaint bordered on alleged cheating, fraudulent activities and obtaining money under false pretences," it said.

Preliminary investigations indicate that six investors reportedly committed a combined sum of N78,360,709 (Seventy-Eight Million, Three Hundred and Sixty Thousand, Seven Hundred and Nine Naira) to the platform.

Further investigative findings reportedly traced the account into which the investors paid their funds to the suspect. The investigation also established a reported link between the PXES platform and Ragekay Global Investment Limited, with a substantial portion of the investors’ funds reportedly traced to the company’s account.

The Command urged members of the public who invested in PXES and believe they have suffered financial losses to come forward with relevant documentary evidence, including bank transfer receipts, transaction records, payment confirmations and communications with the platform. Such information will assist investigators in corroborating complaints, identifying affected persons and advancing the ongoing investigation.

In a separate operation, the Command apprehended Oluwafemi Olarewaju, 29, in connection with a suspected cult-related clash in Ilorin, Kwara State.

Preliminary findings indicate that the suspect allegedly went to retaliate following the clash, while other persons suspected of involvement reportedly fled the scene.

A locally fabricated pistol and mobile phones were recovered in the course of the investigation.

The Kwara State Commandant of the NSCDC, Abbas Ndah Mohammed, reaffirmed the Command’s resolve to sustain proactive, intelligence-led operations against criminal activities and strengthen efforts to safeguard residents across the state.

He urged members of the public to support security operations by providing timely, credible and actionable information, stressing that public cooperation remains essential to crime prevention and effective law enforcement.

The Commandant assured the public that investigations into both cases are ongoing and that appropriate legal action will follow as the investigations progress.

NSCDC arrests suspects over alleged investment fraud, cult-related case