The Nigerian scammer has now become such a cliche it makes you wonder sometimes: was that ever really a thing? We all know people try the Nigerian scam, but did it ever actually work?

It sure did!

Admittedly, the story of Emmanuel Nwude and the imaginary airport isn’t as simple as those emails you get from time to time asking for your bank details, but the essential elements – Nigeria and scamming – are present and correct.

Together with five slightly loyal accomplices, Nwude pulled off the impressive feat of impersonating the Governor of the Central Bank of Nigeria successfully enough to convince Nelson Sagakuchi, a director of the Brazilian bank Bacno Noroeste. He then convinced Sagakuchi to invest in a new airport in the Nigerian capital of Abuja. He asked for a $10 million commission for negotiating the investment, while Sagakuchi happily dreamed of the airport he’d one day own a slice of – so happily he forgot to ask to see the construction works or anything like that.

Amazingly, Nwude was caught – after the Brazilian bank noticed that half its capital was resting peacefully in the Cayman Islands. In total Noroeste lost $242 million from the scam, making it one of Nigeria’s most heroic ever and causing some serious questions to be asked about how quickly Sagakuchi was willing to cough up cash to anyone who came to him with a slick story about aeroplanes.



Emmanuel Nwude the mastermind behind the scam had previously worked as a director of the Union Bank of Nigeria. His banking background gave him access to the knowledge, documentation, and links that made him more believable when it came to executing his scam. Emmanuel’s experience as a bank director meant that he had ample knowledge of how to conduct himself in a business setting and probably had a certain confidence about him that put his victims at ease.

As at the time of the incident, it was the third-largest bank fraud in history, resulting in the collapse of the brazilian bank Banco Noroeste in 2001.

His conviction was the first major conviction for the then newly established Economic and Financial Crimes Commission (EFCC) by the Brazil Government.

Emmanuel and his crew almost got away with the scam. But things began to unravel when Banco Santander, a Spanish bank wanted to take over the Brazilian bank in August 1997. The takeover meant that thorough investigations of the Brazilian bank’s financial statements was conducted. During this period many board meetings between the two banks took place and in December 1997, top officials from the Spanish bank questioned why almost half of the Brazilian bank’s capital was sitting in an unprotected account in the Cayman Islands.

As this discrepancy could not be sufficiently explained as there was no new airport in Abuja, formal investigations were initiated. Criminal investigations also had to be carried out in multiple jurisdictions, which included Brazil, Nigeria, Switzerland, and England. In an effort to ensure that the sale of the Brazilian bank still went through, the owners of the bank had to pay the missing $242 million from their own pockets. Despite this, the Brazilian bank eventually collapsed.

Nwude only spent a few years in jail for the fraud, but a decade later found himself back inside on charges of murder and terrorism. So it’s nice to see he’s keeping himself busy. If he never again reaches similar heights, he will always be a shining example to aspiring Nigerian scammers everywhere. Especially in Nigeria.