Police arrest, repatriate Chinese fugitive over $245m ponzi scheme

The Nigeria Police Force (NPF), through the INTERPOL National Central Bureau (NCB) Abuja, has arrested and repatriated
Xu Qing, a Chinese national, to the People’s Republic of China over his alleged involvement in a massive Ponzi scheme estimated at over $245 million.

The police disclosed that the suspect was declared wanted by Chinese authorities in Beijing for allegedly masterminding a large-scale illegal deposit absorption scheme that reportedly defrauded members of the public of hundreds of millions of dollars.

According to a statement issued on Wednesday by Anthony Placide, Force Public Relations Officer, investigations revealed that Xu Qing fled China and entered Nigeria on November 5, 2024, in a bid to evade arrest.

The statement explained that following extensive investigations by Chinese law enforcement agencies, a warrant for his arrest was issued on November 12, 2025, by the Shinan Sub-Bureau of Qingdao Public Security.

The Nigeria Police said operatives of INTERPOL NCB Abuja, acting on intelligence and sustained surveillance operations, later tracked the suspect to a factory located in Olowotedo, Siun Village, in Obafemi Owode Local Government Area of Ogun State.

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He was subsequently arrested on April 24, 2026.

The police further disclosed that the suspect was repatriated to China on April 28, 2026, under bilateral police cooperation arrangements between both countries to enable him face prosecution for the alleged offences.

Olatunji Disu, Inspector-General of Police, reaffirmed the commitment of the Nigeria Police Force to strengthening international cooperation in the fight against transnational organised crime.

The IGP also urged Nigerian employers and business organisations to carry out proper due diligence, including police background checks, before engaging foreign nationals for employment or business purposes.

According to him, the measure is necessary to prevent Nigeria from being used as a safe haven for criminal suspects fleeing prosecution in other countries.

The Force reiterated its resolve to combat transnational crimes and sustain collaboration with international law enforcement agencies in tracking and extraditing fugitives involved in financial crimes and other organised criminal activities.

Wasiu Alli

Wasiu Alli is a business, economics cum data journalist with strong expertise covering macro trends, capital markets, government policies, corporate earnings and comparative economics analysis. Alli turns raw data into trends that not only tells compelling stories but nudges investors to make valued and informed decisions. He’s an alumnus of Lagos State University and trained at Lagos Business School. He formerly heads the Companies and Markets desk at BusinessDay where he writes and supervises the production of well researched articles on earnings updates, corporate sectoral comparisons, market intelligence as well as interviews with C-suite executives.