The Nigeria Security and Civil Defence Corps (NSCDC), Kwara State Command, has arrested two suspects over an alleged N78.4 million investment fraud involving the PXES platform and a separate cult-related incident in Ilorin.
The command’s Public Relations Officer, Ayoola Michael Shola, disclosed this in a statement, adding that operatives recovered a locally made pistol and mobile phones during one of the operations.
The first suspect, 33-year-old Onwucheku Odum Umeh, was arrested in Ikeja, Lagos State, on October 15, 2026, by operatives of the command’s Tracking Unit following intelligence gathering and investigations into the alleged investment fraud.
According to the command, the complaint involved alleged cheating, fraudulent activities and obtaining money under false pretences.
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Preliminary investigations indicated that six investors reportedly committed a combined N78,360,709 to the PXES investment platform.
Investigators reportedly traced the account used to receive the investors’ funds to the suspect. The probe also identified an alleged connection between the PXES platform and Ragekay Global Investment Limited, with a substantial portion of the money reportedly traced to the company’s account.
The NSCDC urged people who invested in PXES and believe they suffered financial losses to come forward with relevant evidence, including bank transfer receipts, transaction records, payment confirmations and communications with the platform.
The command said the documents would help investigators verify complaints, identify affected investors and advance the ongoing investigation.
In a separate operation, operatives arrested 29-year-old Oluwafemi Olarewaju over a suspected cult-related clash in Ilorin.
Preliminary findings suggested that the suspect allegedly returned to retaliate following the clash, while other individuals suspected of involvement reportedly fled the scene.
A locally fabricated pistol and mobile phones were recovered during the investigation.
The Kwara State Commandant of the NSCDC, Abbas Ndah Mohammed, reaffirmed the command’s commitment to intelligence-led operations and efforts to protect residents from criminal activities.
He called on members of the public to provide timely and credible information to security agencies, noting that public cooperation was important for crime prevention and effective law enforcement.
Mohammed assured residents that investigations into both cases were ongoing and that appropriate legal action would follow as the investigations progressed.
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