The Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects, including 193 foreigners, for alleged involvement in cryptocurrency investment fraud and romance scams.
The arrests were made during a surprise operation on Tuesday, December 10, 2024, at an imposing seven-storey building known as Big Leaf Building, located at No. 7 Oyin Jolayemi Street, Victoria Island, Lagos.
Speaking at a press briefing on Monday, EFCC’s Director of Public Affairs, Wilson Uwujaren, said the operation followed months of surveillance and actionable intelligence on the activities of the syndicate.
Among those arrested were 148 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian. Uwujaren disclosed that the foreign suspects were using the facility to train their Nigerian accomplices in romance and investment scams, leveraging Nigerian identities to carry out fraudulent activities.
“All the floors of the building were equipped with high-end desktop computers,” Uwujaren said. “On the fifth floor alone, investigators recovered 500 SIM cards from local telecom providers, which were purchased for criminal purposes.”
He further explained that the Nigerian recruits were tasked with targeting victims online, mainly from the United States, Canada, Mexico, and various European countries. These accomplices used phishing techniques, creating fake profiles on platforms like WhatsApp, Instagram, and Telegram to lure unsuspecting individuals.
Uwujaren revealed that the foreign operators provided their Nigerian accomplices with the necessary tools, including desktop computers, mobile devices, and access to foreign communication lines. Logs were also supplied to enable the recruits to impersonate individuals using foreign telephone numbers, particularly from Germany and Italy.
The EFCC said the investigation is ongoing and vowed to prosecute those found culpable. The commission emphasized its commitment to curbing cybercrime and warned perpetrators that they would face the full force of the law.
