Mega fraud: EFCC nabs suspect who fleeced 20,000 Nigerians of N7bn

The Economic and Financial Crimes Commission, EFCC has arrested and detained a businessman, Babagana Abba Dalori, who is alleged to have fleeced his business associates to the tune of over N7 billion. Dalori, a 35- year-old 2010 graduate of Electrical Electronics, University of Maiduguri, is the Managing Director, Galaxy Transportation and Construction Services Limited, according to EFCC sources. Investigation by the commission revealed that Dalori allegedly made his money from his unsuspecting investors as he lures them with mouth-watering Returns on Investment (RoI).

He also promised his investors as high as 135% and in some cases 200 percent on whatever they bring into the company as their investment. According to the suspect, he started his business in 2012 with just a tricycle (Keke NAPEP) and by 2014, hundreds of people showed interest in the investment and he felt of the need to diversify. The suspect further claimed during interrogation by the EFCC operatives that he diversified into Sand mining, Haulage business (Tipper), Transportation- commercial buses, while hundreds of investors were still falling on themselves to part with their hard earned money as the stake on Return on Investment had been raised from 135 percent to 200 percent

. In 2016, Dalori veered into full transportation business as he registered Galazy Transport and Construction Company with his mother as co- director. In 2017, he claimed that he invested about N400 million to acquire a quarry licence and started mining at Mpape, Abuja. He added that he had offices in 11 states and continued to lure his investors with mouth watering returns.

He continued collecting money from investors until his investors rose to 20, 700. But instead of concentrating on the line of business for which the investors had put their money, he further diversified as he registered and delved into Galazy Global Energy Limited, Galazy Miners Concepts Limited, Galazy Global Farms, Galazy Guest Palace Limited, Galazy Hospital, Galazy Computing, Galazy Block making and Galazy Car Wash. Investigation further revealed that in all the above companies registered and running which spread in three cities of Abuja, Maiduguri and Yobe, the investors were never carried along; neither were they co-owners in the companies.

Several investors interviewed, explained that they invested between N2 million to N20 million into Galazy Company but were never carried along in the multi million investment he diversified into. Prior to his arrest by the EFCC, most of the victims of the scam had been agitated as the suspect has remained incommunicado. The victims complained to EFCC investigators that despite several visits to his office in Abuja did not yield positive results as the suspect was said to switched off his phones while Galaxy offices were deserted by his officials. A top official of the agency confirmed to Vanguard on Monday that the suspect was being quizzed by its operatives. Vanguard