Nigeria’s Economic and Financial Crimes Commission (EFCC) has carried out its largest single-day operation against cryptocurrency and romance scams, arresting 792 suspects in Lagos. Among those apprehended were 114 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian.
The arrests took place in a seven storey building in Victoria Island, Lagos, which the EFCC alleges was used as a base for training Nigerians in investment and romance scams. According to EFCC spokesperson Wilson Uwujaren, the suspects created fake profiles to defraud individuals through cryptocurrency and investment schemes.
The building was equipped with high-end computers, and over 500 SIM cards from Nigerian telecommunications providers were recovered during the operation. The suspects primarily targeted victims in the United States, Canada, Mexico, and Europe through phishing scams and fraudulent online platforms.
Uwujaren explained that foreign kingpins recruited Nigerian accomplices, providing them with access to foreign communication lines and logs. The recruits were assigned WhatsApp accounts linked to foreign phone numbers, particularly from Germany and Italy, to engage victims in romantic relationships and fake business discussions. The scams revolved around luring victims to shop on a fake investment platform.
This operation highlights the EFCC’s commitment to tackling financial crimes and protecting both Nigerians and international citizens from online scams. The suspects are currently in custody under valid remand warrants and will face prosecution soon.
The EFCC described the bust as a major milestone in its efforts to disrupt organized cybercrime networks operating within Nigeria.