- The EFCC conducted its largest operation, arresting 792 suspects, including 193 foreigners, involved in cryptocurrency investment and romance scams
- The suspects operated from a Lagos building designed to resemble a legitimate business, training Nigerians in online scamming techniques
The Economic and Financial Crimes Commission (EFCC) has conducted its largest-ever operation, arresting 792 suspects involved in cryptocurrency investment and romance scams.
The high-profile raid occurred at the Big Leaf Building, a seven-story facility at No. 7, Oyin Jolayemi Street, Victoria Island, Lagos.
Among the suspects were 193 foreigners, including 148 Chinese nationals, 40 Filipinos, two from Kharzartan, one Pakistani, and one Indonesian. The remaining 599 suspects were Nigerians.
EFCC Director of Public Affairs Wilson Uwujaren explained during a press briefing that the bust followed extensive intelligence gathering and surveillance of the syndicate’s operations.
The Big Leaf Building was designed to resemble a legitimate corporate financial institution but was instead used to train Nigerians to carry out online scams. Investigators recovered high-end desktop computers and over 500 SIM cards from a single floor in the building.
According to EFCC findings, Nigerian youths with advanced computer skills were recruited and trained for two weeks. The training focused on impersonation techniques to scam victims in the United States, Canada, Mexico, and Europe.
Recruits created fake profiles using platforms like WhatsApp, Instagram, and Telegram to build trust with victims.
Once trust was established, victims were directed to a fake investment platform, www.yooto.com, where activation fees started at $35.
The Nigerian recruits, often unaware of the full scale of the operation, worked under the supervision of foreign syndicate leaders and received payment in cash or through personal bank accounts.
After securing victims, the recruits were cut off from the process while the foreign kingpins completed the fraud.
Mobile phones, laptops, desktop computers, and vehicles were among the items recovered. The EFCC also screened suspects’ devices and collected detailed statements.
Mr. Uwujaren stressed that the crime highlights the international dimension of fraud in Nigeria. He debunked the belief that Nigerians alone are responsible for global scams, pointing out how foreign nationals exploit Nigeria’s reputation for criminal gains.
“This operation proves that the idea of Nigerians solely driving these scams is false. Foreigners are building illegal enterprises using our name,” he said.
He added that the EFCC works closely with international partners to ensure all suspects face justice.
“There will be no hiding places for criminals in Nigeria,” Mr. Uwujaren declared.
All suspects are currently held under a valid remand warrant, and preparations are ongoing for their arraignment in court.
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