EFCC Makes Record-Breaking Bust

EFCC Makes Record-Breaking Bust: 193 Foreigners and 599 Nigerian Crypto Fraud Suspects Arrested

In a historic single-day operation, the Economic and Financial Crimes Commission (EFCC) apprehended 193 foreigners and 599 Nigerian suspects linked to cryptocurrency and romance scam syndicates in Lagos. This unprecedented operation, described as the EFCC’s largest to date, was carried out on December 10 following months of careful surveillance.

The commission’s spokesperson, Wilson Uwujaren, revealed the details during a press briefing in Lagos. He disclosed that the arrested foreign nationals included 114 Chinese citizens, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian, all of whom were part of a cybercrime syndicate operating out of Lagos.

Uwujaren explained that the suspects were captured during a surprise raid on their hideout—a massive seven-story structure known as Big Leaf Building, located at 7, Oyin Jolayemi Street. While appearing as a corporate financial institution, the facility was actually used to train Nigerian accomplices in fraudulent activities.

The building’s multiple floors were fully equipped with high-tech desktop computers. On the fifth floor alone, 500 SIM cards from local telecom providers were uncovered, reportedly used for fraudulent purposes. Investigators found that the foreign nationals orchestrated phishing schemes, targeting victims across the globe, including Americans, Canadians, Mexicans, and various Europeans.

The Nigerian accomplices were reportedly trained to engage victims on platforms like WhatsApp, Instagram, and Telegram. Armed with mobile devices and fake profiles, they were instructed to initiate romantic and investment conversations. Uwujaren noted that the syndicate particularly used foreign phone numbers, primarily from Germany and Italy, to enhance their credibility. Victims were lured into fraudulent investments via the syndicate’s platform, www.yooto.com, where activation fees began at $35.

Further investigation revealed the intricate operations of the syndicate, including the provision of fake communication logs and WhatsApp accounts linked to international numbers. These tools enabled the fraudsters to manipulate their targets effectively.

Uwujaren emphasized that the EFCC’s operation was based on “actionable intelligence” and extensive monitoring of the syndicate’s activities. He added that the commission is conducting further investigations to determine the scale of the fraud and any connections to organized international cybercrime networks.

Among the items seized during the raid were desktop computers, laptops, mobile phones, and cars. The EFCC spokesperson confirmed that statements had been obtained from the suspects, and their devices are currently under forensic examination.

The suspects, held under a valid remand warrant, are expected to be arraigned in court in the coming days. The EFCC assured that investigations would continue to uncover any additional collaborators or hidden elements of the operation.