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Fraud

Nigeria Police Force Concludes Investigation into Large-Scale Corporate Fraud

Strategic Insights

— 2 min read

The Nigeria Police Force has concluded an investigation into a complex case of corporate fraud, impersonation, and forgery involving three Ghanaian nationals and a Nigerian accomplice. The suspects, Samuel Esson Jonah, Kojo Mensah Ansah, and Victor Quainoo, all citizens of Ghana, and a Nigerian, Abu Arome, allegedly conspired to take over a Nigerian-owned company, JonahCapital Nigeria Limited, and its interests in the River Park Estate development. The investigation revealed that the suspects used forged board resolutions, signatures, and documents to alter the ownership structure of the company, increasing its share capital from one million to one hundred million shares and allotting 99 million shares to themselves.

Key Takeaways:

  • The police investigation uncovered compelling evidence of corporate fraud, forgery, impersonation, and criminal breach of trust involving three Ghanaian nationals and a Nigerian accomplice.
  • The suspects allegedly altered the ownership structure of JonahCapital Nigeria Limited by increasing its share capital from one million to one hundred million shares and allotting 99 million shares to themselves.
  • The scheme was executed through the use of forged board resolutions, signatures, including those of Adeniran Ogunmuyiwa, a former Director of the company, and John Richard Johnson, a South African co-financier of the company.
  • The suspects falsely presented themselves as Nigerian citizens to the Corporate Affairs Commission (CAC) to deceive the agency into accepting falsified documents and authorizing the illegal corporate restructuring.
  • The police also established that the suspects' purported acquisition of shares in Houses for Africa Nigeria Limited, the firm behind River Park Estate, was similarly fraudulent.
  • The Nigeria Police Force emphasized that fraud vitiates consent under Nigerian law, rendering the acquisition invalid and reaffirming Paulo Homes Limited as the lawful owner with 8,000,000 shares acquired.
  • The suspects, despite multiple summons, have failed to honour their invitations, opting for legal obstructions, press campaigns, and public accusations of bias against senior police officers.

Statistics:

  • 1,000,000 shares increased to 100,000,000 shares in the alleged corporate restructuring.
  • 99,000,000 shares allotted to the suspects in the fraudulent scheme.
  • 8,000,000 shares retained by Paulo Homes Limited as the lawful owner.
  • At least 2 diplomatic notices sent to foreign partners in the case.
  • June 2, 2025, was the date of the first summons to the suspects.
  • June 24, 2025, was the date of the diplomatic notice sent to the Ghanaian High Commission.

Sources:

  • The Nigeria Police Force
  • Olumuyiwa Adejobi, Force Public Relations Officer
  • Samuel Esson Jonah, Kojo Mensah Ansah, and Victor Quainoo, all citizens of Ghana
  • Abu Arome, a Nigerian accomplice
  • Paulo Homes Limited
  • Houses for Africa Nigeria Limited
  • Corporate Affairs Commission (CAC)
  • Ghanaian High Commission

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