Police in Nigeria said they have arrested and repatriated a Chinese national, Xu Qing, for allegedly masterminding a Ponzi scheme valued at more than $245 million in China.

In a statement on Wednesday, police spokesperson Anthony Placid said the fugitive fled to Nigeria after committing the crime.

Mr Placid said the operation that led to the Chinese man’s arrest was carried out through the INTERPOL National Central Bureau (NCB) Abuja following a formal request from Chinese authorities, who declared the suspect wanted in Beijing over allegations of “large-scale illegal absorption of public deposits.”

According to the police spokesperson, investigations showed that Mr Qing escaped from China to Nigeria on 5 November, 2024, in what authorities described as an attempt to evade arrest after hundreds of investors were allegedly defrauded through the scheme.

A warrant for his arrest was later issued on 12 November, 2025, by the Shinan Sub-Bureau of Qingdao Public Security.

Mr Placid said that operatives of INTERPOL NCB Abuja launched sustained intelligence and surveillance operations that eventually traced the fugitive to a factory in Olowotedo, Siun Village, in Obafemi Owode Local Government Area, Ogun State.

“He was arrested on 24th April 2026 and repatriated to China on 28th April 2026 through bilateral police cooperation arrangements to face prosecution for the offences,” the police spokesperson stated.

He explained that the alleged fraud involved the illegal collection of public deposits through deceptive investment schemes estimated at over $245 million.

Mr Placid said the Inspector General of Police (IGP), Olatunji Disu, reaffirmed the commitment of the Nigeria Police Force to international collaboration against transnational organised crime, stressing that Nigeria would not serve as a refuge for fugitives.

ALSO READ: Nigeria deports 42 Chinese, Philippine nationals convicted of cyber fraud, Ponzi schemes

“He stole $245 million, fled to Nigeria, and believed he would evade justice. He was mistaken,” Aliyu Giwa, the head of the newly formed New Media police unit, said in a separate statement.

Mr Giwa said the IGP urged Nigerian employers and business owners to conduct proper due diligence and background checks before engaging foreign nationals in employment or business relationships.

“Justice extends beyond borders, and so does the commitment of the Force,” Mr Giwa added.

Nigeria police repatriate Chinese fugitive behind $245m ponzi scheme

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