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Nigeria politics

Meet Nigerian who sold an imaginary airport for 242 million dollars to an international bank.

One of the biggest scams in Nigeria was carried out by Emmanuel Nwude who was with the mastermind but he had the help of five other people who were his accomplices. Emmanuel worked as a director to the Union Bank of Nigeria and this experience gave him access to knowledge, links and documentation that made him believable in executing his scam. He impersonated Paul Ogwuma, whe was then the governor of the Central Bank of Nigeria and contacted the director of a Brazilian bank, Nelson Sakaguchi. Emmanuel pitched the idea of getting the Brazilian bank involved in developing the Nigerian economy by investing in the building of a new airport in Abuja, he went ahead to sweeten the deal for Nelson by promising that he would get a commission of ten million dollars and the poor man fell for it. Between 1995 and 1998, Nelson sent 242 million dollars to the fraudsters!!!.

The plan however started falling apart when a Spanish bank wanted to take over the Brazilian bank and investigation into the financial statements showed a significant amount of money missing. After further investigations, they discovered that there was no new airport being built in Nigeria. The bank eventually collapsed due to all the debt. It took years for the fraudsters to be apprehended and brought to court in 2004. Emmanuel was sentenced to five years in prison with a fine of 10 million dollars, that's like a very small amount compared to what he got. I bet by now he's out of prison.

Content created and supplied by: Autumnsoul (via Opera News )

Brazilian Emmanuel Nwude Nelson Sakaguchi Nigeria Nigerian


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