Nigeria, often recognized as a country with a rich cultural heritage and a booming economy, has also been infamous for fraud and scams both domestically and internationally. The term “419,” derived from the section of the Nigerian Criminal Code dealing with obtaining property by false pretenses, has become synonymous with scams. In this list, we are recognizing some of the top fraudsters in Nigeria who have gained notoriety for their infamous scams and fraudulent activities. While the activities of these individuals are by no means commendable, understanding them can provide valuable insights into the darker side of economic activity and the international efforts to combat fraud.
#10 – Fred Ajudua
Fred Ajudua, a notable personality in Nigeria, has long been associated with high-profile fraud cases. His exploits from the 1990s put him on the map as a consummate conman. He was famous for targeting high-net-worth individuals and duping them with fake promises of lucrative returns on investment. One of Ajudua’s alleged notorious scams was convincing a Dutch national to part with $1.69 million under the pretense of a fictitious government contract.
#9 – Emmanuel Nwude
Emmanuel Nwude stands out for perpetrating one of the largest banking frauds in the world, targeting a Brazilian bank, Banco Noroeste, in an audacious scheme. Posing as Paul Ogwuma, the then Governor of the Central Bank of Nigeria, Nwude defrauded the bank of an astonishing sum of $242 million between 1995 and 1998. This scam, based on a nonexistent airport project, eventually led to the collapse of the Banco Noroeste.
#8 – Foutanga Babani Sissoko
A man of many talents, Foutanga Babani Sissoko, made headlines not just for his charm but for his elaborate and successful swindling of a Dubai-based bank. Sissoko tricked the bank’s manager into believing he had black magic powers, compelling the manager to transfer millions of dollars into his accounts. Although not originally from Nigeria, Sissoko’s activities did impact the region, and he became well-known in Nigeria amongst fraudsters.
#7 – Frank Abagnale
While Frank Abagnale is not Nigerian by origin, his story is quite influential in the world of fraud, to the point where it has had ripples globally, including in Nigeria. His life, subject of the movie “Catch Me If You Can,” depicts his savvy techniques in check fraud and false identities during the 1960s. Abagnale’s methods and techniques have been studied worldwide, including by scam artists in Nigeria, making his influence quite widespread.
#6 – Ramon Olorunwa Abbas (Hushpuppi)
Ramon Olorunwa Abbas, popularly known as Hushpuppi, takes the social media role in fraudulent activities to another level. Flaunting his extravagant lifestyle on Instagram, he was actually a front for a transnational network engaging in cybercrime and money laundering. He was arrested in Dubai and extradited to the United States, where he faced charges related to conspiring to launder hundreds of millions of dollars from frauds known as Business Email Compromise (BEC) and other scams.
#5 – Seun Egbegbe
Seun Egbegbe is a filmmaker who became infamous for his alleged involvement in multiple fraud cases. Starting with retail-based scams, such as the theft of phones from a shop in a market area, Egbegbe’s alleged criminal activities expanded to include sophisticated forms of fraud involving the perpetration of currency exchange scams. His fall from grace as a respected member of the Nigerian film industry to a suspected fraudster was both rapid and widely publicized.
#4 – Chief Maurice Ibekwe
Often remembered as one of the pioneers of advance fee fraud in Nigeria, Chief Maurice Ibekwe was a key figure in the world of financial scamming. He realized the potential for overseas scam operations in the early stages of global internet adoption. Allegedly amassing wealth by defrauding people with promises of massive returns on investments or non-existent inheritance claims, Ibekwe’s operations made him a fortune, as well as a spot on Nigeria’s list of infamous conmen.
#3 – Fredrick Leonard
Fredrick Leonard’s case is a startling example of how fraud is not confined to the widely perceived underbelly of society. As a respected actor in the Nigerian movie industry, Leonard’s supposed involvement in fraudulent activities shocked many. While scams involving romantic intentions or false representation in Nollywood are widespread, Leonard’s name came up in reports, solidifying the presence of fraudulent activities in various strata of Nigerian society.
#2 – Ismaila Mustapha (Mompha)
Ismaila Mustapha, known as Mompha, is another social media personality who showcases his wealth and opulent lifestyle. Allegedly linked to money laundering and scam operations, Mompha’s arrest by the Economic and Financial Crimes Commission (EFCC) caused a stir as it peeled back the layers of ‘Instagram riches’ to reveal underlying criminal activities. He was accused of perpetrating fraud through a company he owns, which was supposedly a front for money laundering.
#1 – Olajide Ogunye
Not as widely known as some of his contemporaries, Olajide Ogunye made a name for himself not through flashy displays of wealth, but through a methodical approach to identity theft and fraud. His meticulous operation involved stealing personal information and posing as various individuals to defraud government programs and financial institutions. The impact of his actions on the lives of countless individuals and the Nigerian state’s resources puts him at the top of our list.
In concluding, Nigeria’s battle against fraud is an ongoing one, with the government and international agencies working tirelessly to dismantle networks and educate the public about the dangers of financial scams. The infamous top fraudsters highlighted here serve as a cautionary tale of the potential perils of unchecked greed and the importance of robust cybersecurity measures. It’s crucial to note, however, that these individuals are exceptional cases and do not represent Nigeria or Nigerians as a whole, who are predominantly law-abiding citizens contributing positively to their society and the world at large.