A SOPHISTICATED $1.4 million international fraud scheme that targeted foreign companies has been uncovered by the National Agency for Food and Drug Administration and Control (NAFDAC).
The Explainer gathered that the head of the syndicate, Mr Ikoro Mang Ifendu, a 52-year-old trader from Abia State, was apprehended on 7 February 2025 in Ogborn Hills, Aba.
NAFDAC’s Director General, Professor Mojisola Adeyeye, while addressing journalists in Lagos, revealed that the fraudulent network deceived businesses from China, Japan, Poland, South Korea, the UAE, and the United States into making payments for fake NAFDAC product registrations.
Adeyeye explained, “Ifendu operated a three-pronged scam that involved a buyer, a bank, and a lawyer. The syndicate would contact foreign businesses under the guise of importers, direct them to fraudulent banks for payment processing, and introduce them to a supposed legal expert who would facilitate the registration process – for a hefty fee.”
The Explainer learned that 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, a fresh deposit of $75,000 was received in one of the fraudulent accounts.
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NAFDAC presented forged documents at the press conference, including a fake NAFDAC Registration Certificate for Thani Almaeeni Trading Group, counterfeit revenue receipts for payments ranging from ₦6.8 million to ₦20.9 million, and fraudulent swift transfer advice copies.
One victim, Thani Almaeeni Trading Group of Abu Dhabi, UAE, reported being defrauded while attempting to register dried fish for export to Nigeria. Other victims included Japan Long Tie (China) Co. Ltd. for condom importation, Aquaforest SP in Poland for drinks and vegetable oil registration, and Nomea Srl in Italy for NAFDAC product registration.
The Explainer gathered that the fraudsters operated 15 domiciliary and five local accounts across seven Nigerian banks, with some accounts linked to two key syndicate members, Ifendu and Rosemary Obosi. Some accounts and alert messages were deleted to conceal evidence.
Adeyeye stated, “These fraudsters were highly sophisticated. They used forged letterheads, fake revenue receipts, and counterfeit NAFDAC certificates to make their scams appear legitimate.”
The Explainer also learned that NAFDAC has strengthened its Investigation and Enforcement Task Force and plans to hand over the case to the Economic and Financial Crimes Commission (EFCC) for further investigation under the Proceeds of Crime Act.
“We will not tolerate any criminal activities that tarnish the reputation of NAFDAC or exploit innocent businesses,” Adeyeye assured.
To prevent future scams, NAFDAC has restructured its enforcement teams and increased the number of police officers assigned to track fraudsters. Businesses have been urged to verify product registration only through NAFDAC’s official portal.
The Explainer gathered that this incident echoes previous fraud cases involving Nigerian syndicates targeting foreign businesses. For instance, a Nigerian socialite Darlington Akporugo was arrested a month before his wedding for a $3 million fraud in the U.S., further highlighting the rise of financial crimes involving Nigerian syndicates.
