The suspect, whose name could not be ascertained as of press time, was arrested on Sunday in Fegge, Onitsha South Local Government Area of Anambra State.
The alleged impersonator, it was gathered, had reportedly swindled a businessman in the area of the sum of N3m.
Briefing journalists on the development, the Fegge Divisional Police Officer, Rabiu Garba, said the suspect was helping the police with their investigation.
He said N2m had been recovered from him, while efforts were being intensified to retrieve the remainder.
“Our detectives have also arrested members of a syndicate, who duped a building materials dealer of N1.2m worth of goods in Ukpor, Nnewi South Local Government Area of Anambra State,” Garba added.