The Lagos State Police Command has arrested a 41-year-old woman, Nnenne Nwizu, over an alleged N450 million land fraud involving no fewer than 30 victims.
It was gathered that the suspect obtained money from the victims under the pretext of selling land to them.
The suspect was arrested in Lagos Island after the victims reported the case.
Following the report, the Commissioner of Police in Lagos State, Mr Fatai Tijani, directed that the case be transferred from the Ebute-Ero Police Division to the State Criminal Investigation Department (SCID), Yaba for comprehensive investigation.
The investigation is being handled by the Anti-Fraud Section of the SCID, under the supervision of the Deputy Commissioner of Police in charge of the department, Mr Dayo Akinbisehin.
According to a police source, the complainants, led by one Ugwunna Mark of 23/24 Nnamdi Azikiwe Street, Lagos Island, reported to the police on July 10 that the suspect allegedly obtained money from them under the false pretext of selling plots of land in the South-East through her company, Lilyworth Homes Ltd.
The police source said the suspect, who is the Chief Executive Officer of the company, allegedly collected various sums from the victims over a period of more than two years.
The complainants alleged that each of them paid N9.45 million for the proposed land transactions, but the promised allocations never materialised.
According to the source, the victims further alleged that the suspect subsequently abandoned her corporate office and relocated to an unknown location, making it impossible to reach her.
The source disclosed that additional victims had continued to report to the SCID with similar complaints, bringing the total amount allegedly obtained by the suspect to an estimated N450 million.
“Part of the money allegedly obtained from the victims was used to construct a massive hotel, although the location of the property has yet to be disclosed, ” he said.
According to the source, the suspect is cooperating with detectives handling the investigation and has made useful statements.
The source added that she would be arraigned in court upon the conclusion of investigations.
The police urged members of the public to exercise caution when investing in real estate, advising prospective buyers to conduct proper due diligence by verifying land titles, company registration, and the credibility of developers before making payments.
The investigation is ongoing as detectives continue to receive complaints from other alleged victims believed to have been affected by the suspected fraud.
