The latest scam from Nigerian con-men is circulating through Island computers, promising 30 percent of $14.2 million.

A concerned citizen has forwarded a letter from a Dr. Robert Eloko to The Royal Gazette . Dr. Eloko attempts to convince would-be Bermuda `partners' to offer their bank accounts in a scheme to secure millions of dollars of wayward Nigerian money.

The money has been: "accrued through deliberate over-invoicing of old project (sic) executed for the Government by some foreign firms.'' And the letter continues: "I and a few officials here have worked out the scheme to benefit us along with any foreign partner who obliges us the materials and channel to push out the fund, our idea being to come over thereafter to share the funds with you for assisting us.'' All attempts to contact Mr. Eloko in Nigeria were unsuccessful as his phone appears to have been disconnected.

The proposal tries to entice the unwary investor with comments such as: "In picking you for this business, please note that your expertise has been taken into consideration as you will be required to guide us through a wise investment of our share of the fund in a viable venture in your country or anywhere in Europe.'' The letter offers 30 percent for participants, 60 percent for the Nigerians, and 10 percent for expenses incurred by both parties from: "processing of the transfer to your nominated bank account.'' The final lines of the proposition claim that it is risk free and says: "I am awaiting your response most urgently and be rest assured that this transaction is 100 percent risk free, there is no risk involved both now and in future.

Thank you and God Bless, Yours Sincerely, Dr. Robert Eloko.'' In the past, a Police spokesman summed up Nigerian fraud letters in a single simple sentence: "If something seems too good to be true, chances are it is.'' Last year Police received 297 complaints about suspect letters from Nigeria.

In 1995, fraud squad detectives reported that Bermuda received a different scam letter for every day of the year.

They attributed the large volume of scam letters to either the high number of Bermudians who answer the letters or financial journal reports that Bermuda is a good, safe haven to put money into.

Similiar schemes in the last couple of years include: October 2000: Dr. Usam Bello from Nigeria offers a slice of $40 million, "risk free''.

June 2000: Wife of General Sani Abacha of Nigeria seeks international help in securing "the family fortune'' ($50 million) January 2000: Prince Ovie O.

Odafe claimed to be an accountant with the Nigerian Petroleum Trust Fund and was seeking help in transferring $45 million.

December 1999: Sam Kamagi, principal partner of Kamaji, Jaja and Co. Chambers who represent elite Nigerian clientele were soliciting help in transferring $39.75 million out of Nigeria.

March 1998: A letter from Mr. Lewis Malibu, former Accountant General with the Federal Ministry of Finance in the Government of the deposed and late president Mobutu Sese Seku of Zaire, with a telephone number in Nigeria, appears on the Island offering a slice of $12 million.