Alleged $4.5bn PTF Fraud: EFCC Arrests Fake Journalist for Claiming to Stop Investigation

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Alleged $4.5bn PTF Fraud: EFCC Arrests Fake Journalist for Claiming to Stop Investigation

June 4, 2025

The Economic and Financial Crimes Commission, EFCC, has arrested a fake Journalist, Ernesto Chukwudum Chukwukamma for alleged extortion, impersonation and obtaining by false pretense.

In a statement by the EFCC, Chukwukamma obtained under false pretense the sum of N2,000,000.00 to influence the investigation of the sum of $4,500,000,000 alleged Petroleum Trust Fund, PTF, Fraud.

Chukwukamma, 63, was arrested for allegedly threatening the life of a petitioner and receiving financial inducement from him to stop the investigation of $4,500,000,000.00 alleged Petroleum Trust Fund, PTF, Fraud.

The suspect allegedly presented himself to the petitioner as a journalist attached to the EFCC.

He also allegedly informed the petitioner that other Journalists who are members of a Correspondence Chapel attached to the Commission had a report of how he stole the sum of $4,500,000,000 in the process of winding up the activities of the Petroleum Trust Fund.

Investigation revealed that the suspect had already received the sum of N2,000,000.00 from the petitioner and was arrested while attempting to withdraw the funds.

He will be charged to court upon conclusion of investigation.