The suspects allegedly used counterfeit gold to defraud a Plateau-based mineral company chief executive, with police estimating that the recovered items would be worth N6.7bn if genuine.
The Nigeria Police Force has arrested three suspects accused of defrauding the Chief Executive Officer of Emmaco Minerals Company, Jos, Plateau State, of N75 million in a gold transaction involving suspected counterfeit precious metal allegedly treated with chemicals to make it appear genuine.
The suspects, identified as Bashiru Aliyu, 31, also known as Umar; Sani Surajuo, 25, also known as Alkassan; and Mohammed Auwul, were arrested by operatives of the Force Intelligence Department Special Tactical Squad in Jambutu, Yola,
Adamawa State, on September 14, 2026.
The arrest followed a written complaint submitted to the Inspector-General of Police, IGP Olatunji Rilwan Disu, by the company’s chief executive, Mr Onu Emmanuel Okwudili, after the suspects allegedly collected N75 million for gold they presented as genuine but subsequently disappeared and resorted to threats.
According to the police, the operation was conducted by FID-STS operatives coordinated by the Assistant Commissioner of Police in charge of the unit, ACP Godfrey Ogbeide Victor, in line with the IGP’s directive to track down criminal elements allegedly using fake gold to defraud unsuspecting victims of millions of naira.
The police said the transaction originated on May 1, 2026, when the suspects allegedly approached Okwudili and represented that they had gold-plated raw gold available for sale. Following negotiations, the parties reportedly agreed on a purchase price of N75 million.
The complainant allegedly paid the agreed amount after being shown the gold. However, the suspects reportedly disappeared after receiving the money and subsequently resorted to threats, leaving the company chief executive to seek police intervention.
Investigators subsequently traced the suspects to Adamawa State, where the three men were arrested and exhibits recovered. The police said the operation was aimed at bringing those responsible for the alleged fraud to justice and identifying other individuals who might be connected to the scheme.
In a disclosure that could provide investigators with important leads, the suspects reportedly confessed to the crime and claimed to have links with criminal syndicates operating in Nigeria and several other West African countries.
The police said the suspects allegedly told investigators that they routinely presented prospective victims with a story that the gold had been stolen from a shop in the Republic of Cameroon.
According to the police account, the explanation was allegedly used as a means of manipulating victims and discouraging them from reporting the fraud. The suspects reportedly exploited the possibility that victims might fear being accused of knowingly purchasing stolen property, using that concern to threaten and silence them after the transactions went wrong.
The police further disclosed that the suspects allegedly used a chemical they described as “super bright”, which they said was purchased from China, to coat the counterfeit gold and make it appear authentic.
The chemical treatment was reportedly intended to give the fake gold the appearance of genuine precious metal and enable it to pass chemical tests conducted to establish its authenticity. The claims are part of the information obtained by investigators and remain subject to further investigation.
The scale of the suspected fraud was underscored by the police’s estimate that the recovered gold would be worth approximately N6.7 billion if it were genuine. The figure represents the estimated value of the material as authentic gold, not the amount allegedly paid by the complainant, which was N75 million.
During the operation, operatives recovered 25 kilogrammes of suspected counterfeit plated gold comprising 17 units, as well as an additional 10 kilogrammes of smaller gold units reportedly linked to the transaction for which Okwudili paid N75 million.
The recovery of the materials is expected to assist investigators in establishing the nature of the suspected fraud, determining whether the recovered items are connected to other transactions and tracing possible victims beyond the complainant.
The police also recovered two cards of suspected tramadol and three suspected counterfeit United States dollar notes, each reportedly bearing a denomination of $100. The circumstances surrounding the possession of the drugs and counterfeit currency are expected to be examined as the investigation progresses.
Another significant aspect of the operation was the recovery of a police spy identity card bearing the rank of Superintendent from one of the suspects, Auwul.
The possession of the card raised suspicions of impersonation involving personnel of the Police Service Commission. Investigators are expected to establish how the card was obtained, whether it was used to deceive victims and whether other persons were involved in any alleged impersonation scheme.
The police said investigations had commenced, with efforts being intensified to arrest other suspects who were still at large and recover additional exhibits that could help establish the full scope of the alleged criminal operation.
The case also stress the importance of verifying the authenticity and provenance of precious metals before completing high-value transactions, particularly where sellers make claims that cannot be independently substantiated.
For businesses operating in the mineral sector, the alleged fraud demonstrates the financial risks associated with transactions that depend on the authenticity of gold and other valuable commodities. Independent laboratory testing, proper documentation and verification of sellers’ identities are important safeguards against fraudulent dealings.
The police have not disclosed whether the recovered gold has undergone independent forensic or laboratory testing, nor have they provided details of any other confirmed victims linked to the alleged syndicate.
The suspects’ reported claims about criminal networks operating in Nigeria and other West African countries also remain subject to verification as investigators work to establish whether the alleged operation extended beyond the transaction involving Emmaco Minerals Company.
The Inspector-General of Police, IGP Olatunji Rilwan Disu, has directed that criminal elements exploiting fake gold transactions to defraud members of the public be brought to justice.
The Force Intelligence Department Special Tactical Squad said the investigation would continue until other fleeing suspects were apprehended and further evidence recovered.
The three suspects remain accused persons, and the allegations against them are subject to the outcome of the investigation and any subsequent judicial proceedings.
