N5.3bn fraud: Interpol declares Muna Investment CEO Munachim Onyia wanted

The Interpol section of the Nigeria Police Force (NPF) has declared Munachim Onyia wanted for alleged N5.3 billion investment fraud.

Ms Onyia had allegedly swindled unsuspecting investors through a Ponzi scheme named Muna Investment.

Company registration filings also showed she registered MECO Enterprises, a sole proprietorship, in September 2018. She also ran IBC Africa, an investment firm.

A Federal High Court in Lagos issued a warrant of arrest for Onyia, reports Peoples Gazette.

“She is wanted by the police for the offence of obtaining Money under False Pretence the suspect falsely claimed to be a CBN Agent and obtained over one Billion Naira (N1B),” a notice issued by the Interpol section of the NPF read.

The Lagos State Police Command also arrested Silas Babatunde, a marketing executive who was with Guaranty Trust Bank at the time of the fraud. The police are looking into whether or not Mr Babatunde acted alone or with the knowledge and approval of his superiors at the bank.

A representative of GTB told the online news outlet that Babatunde was an employee of the bank, but failed to disclose when and why he ceased to be an employee of the bank.

CHIVE GPS, an intelligence research analysis firm based in Lagos, initiated the petition on behalf of the victims. Many of the victims said they have been extorted repeatedly by the police and other law enforcement agencies while the principals in the fraud remain at large.

At a meeting of victims held in Ikoyi two weeks ago, victims said Onyia duped them to the tune of N5.3 billion, according to attendees who shared the outcome of the meeting with Peoples Gazette this week.