The Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects, including 193 foreign nationals, for their involvement in cryptocurrency investment fraud and romance scams. The arrests were made on December 10, 2024, following a months-long investigation and surveillance operation at a high-rise building on Oyin Jolayemi Street in Victoria Island, Lagos .
According to the EFCC’s Director of Public Affairs, Wilson Uwujaren, the operation targeted a syndicate of foreign fraudsters who used the building, disguised as a financial institution, to train Nigerian operatives in scamming victims globally. Among the foreigners detained are 148 Chinese nationals, 40 Filipinos, two Kharzartans, and individuals from Pakistan and Indonesia.
The suspects were found with an array of high-tech equipment, including 500 SIM cards, which were purchased for criminal use. The operation uncovered the syndicate’s strategy of using fake profiles to lure victims, particularly in the U.S., Canada, and Europe.
The EFCC’s investigation revealed that the Nigerian accomplices were recruited based on their computer skills, particularly typing. They underwent a two-week training on how to impersonate foreign individuals in scams. Once the Nigerian operatives gained the trust of the victims, foreign operatives took over the scam operations, leaving the Nigerians in the dark about the final fraudulent transactions.
The EFCC has emphasized that the operation highlights the fact that while Nigeria has been associated with fraud, foreign criminals have been exploiting the country’s reputation to establish and run their operations. The commission vowed that there would be no safe haven for criminals in Nigeria.
