NAFDAC uncovers $1.4m fraud scheme targeting foreign firms, key suspect arrested

“Over $950,000 was funneled into Nigerian domiciliary accounts linked to the syndicate, while an additional $450,000 was traced to offshore accounts in Cotonou, Benin Republic. Shockingly, even after Ifendu’s arrest, an alert for a fresh deposit of $75,000 was received in one of the fraudulent accounts.”

Continuing, she said: “The fraud ring generated fake NAFDAC registration certificates, revenue receipts, and swift transfer documents, many of which bore the names of retired NAFDAC officials to lend credibility.

“Some of the fraudulent documents presented at the press conference included a fake NAFDAC Registration Certificate issued to Thani Almaeeni Trading Group; counterfeit revenue receipts showing payments ranging from ₦6.8 million to ₦20.9 million; a fraudulent processing requirements document purportedly signed by a former NAFDAC director and fake swift transfer advice copies, proving payments made by victims.”

She said NAFDAC also identified multiple foreign companies that fell victim to the scam, including businesses from China, Japan, Poland, South Korea, and the United States.

She said these companies were tricked into paying for fraudulent product registrations covering items like condoms, vegetable oil, and beverages.

She pledged that the agency would intensify its crackdown on fraudulent activities.

Adeyeye said the case will be handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation. The EFCC plans to invoke the Proceeds of Crime Act (POCA) to recover assets illegally acquired by the fraudsters.

She further assured the public that NAFDAC has strengthened its investigative and enforcement units, including deploying more police officers to track down fraudsters.

Adeyeye urged businesses only to register products through official NAFDAC channels, directing them to the official NAFDAC registration portal for verification.

She added: “We will not tolerate any criminal activities that tarnish the reputation of NAFDAC or exploit innocent businesses. The public must remain vigilant and report any suspicious activities. NAFDAC will continue to investigate the full extent of the fraud, with additional arrests expected as the investigation unfolds.”