Five suspects linked to a fraud syndicate were arrested by the Katsina State Police Command after authorities uncovered a scheme that defrauded members of the public through fraudulent bank transactions.
The police said the syndicate had been operating in the state, using falsified banking procedures to siphon funds from unsuspecting customers.
In addition to the arrests, the police froze N22 million in assets that were connected to the alleged fraud.
Investigators are working with local banks to trace the flow of the stolen money and to identify the full extent of the victims affected by the scheme.
The case underscores the ongoing challenge of financial fraud in Nigeria and the importance of coordinated law‑enforcement efforts to protect consumers.
<small>Source: Punch Nigeria — read the original story there.</small>