EFCC Busts 193 Foreigners, 599 Nigerians in Largest Cyber Fraud Crackdown in Lagos

The Economic and Financial Crimes Commission (EFCC) has carried out what it describes as its largest single-day operation against cryptocurrency and romance scam networks, arresting 792 suspects, including 193 foreign nationals, in Lagos.

Wilson Uwujaren, the EFCC spokesperson, disclosed that the operation, conducted on December 10, targeted a cybercrime syndicate operating from a seven-story building on Oyin Jolayemi Street, Victoria Island.

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Among those apprehended are 114 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian. They were allegedly part of a network involved in cryptocurrency fraud, romance scams, and other cybercrimes.

“The suspects were apprehended in a surprise operation at their hideout, an imposing seven-story edifice known as the Big Leaf Building,” Uwujaren said. “The breakthrough followed actionable intelligence and months of surveillance and monitoring of the syndicate’s activities.”

According to him, investigations revealed that the building was used as a hub to train Nigerian accomplices on how to execute online scams, particularly romance and investment fraud.

“All the floors are equipped with high-end desktop computers. On the 5th floor alone, investigators recovered 500 SIM cards of local telcos that were bought for criminal purposes,” he stated.

Uwujaren explained that the Nigerian members were recruited to target victims online, mainly from the United States, Canada, Europe, and Mexico, through phishing schemes and fraudulent online investment platforms.

“They usually arm them with desktop computers and mobile devices and create fake profiles for them,” he said. “The Nigerian accomplices are equally provided with logs that allow them access to foreign communication lines and victims, who they chat with on WhatsApp, Instagram, and Telegram.”

The syndicate allegedly directed victims to a fake online investment platform, www.yooto.com, where activation fees for accounts began at $35.

Uwujaren confirmed that items recovered during the raid include desktop computers, mobile phones, laptops, and vehicles. The suspects are currently in custody under valid remand warrants and will be charged in court soon.

Further investigations are ongoing to determine the full scale of the syndicate’s activities and any connections to international fraud networks.