The Economic and Financial Crimes Commission (EFCC) has disrupted a massive international scam syndicate in Lagos, arresting 792 suspects from various countries, including China, the Philippines, and several Arab nations.
The suspects were apprehended during a surprise raid on a high-rise building in Victoria Island, Lagos, where they were allegedly involved in cryptocurrency investment fraud and romance scams targeting victims across the globe.
During a press briefing on Monday, EFCC Chairman Ola Olukoyede and Acting Zonal Director Michael Wetkas provided details of the operation. Olukoyede revealed that credible intelligence led investigators to a seven-story building on Oyin Jolayemi Street. While disguised as a legitimate corporate office, the building was a training ground for Nigerian accomplices involved in fraudulent schemes.
Among the suspects were 148 Chinese nationals, 40 Filipinos, two Kazakhstanis, one Pakistani, and one Indonesian. These foreign operatives were reportedly training Nigerians in the art of executing romance scams and investment frauds.
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The syndicate’s masterminds allegedly posed as foreign women to lure victims into fake online relationships and persuade them to invest in fraudulent cryptocurrency schemes. High-tech equipment facilitated their operations.
The Nigerian accomplices, chosen for their computer proficiency, were trained to target victims primarily from the United States, Canada, Mexico, and Europe through platforms like WhatsApp, Instagram, and Telegram. They were given access to foreign communication lines and tasked with convincing victims to invest in a fraudulent platform, www.yooto.com.
Olukoyede noted that many Nigerian recruits were unaware of the syndicate’s full scope and were paid in cash or through personal accounts, avoiding official payroll systems. He addressed the misconception that Nigerians are solely responsible for fraud originating from the country, emphasizing that foreign criminals exploit Nigeria’s reputation to operate with impunity.
Evidence Recovered
During the raid, EFCC operatives seized desktop computers, mobile phones, laptops, and cars. On the fifth floor of the building, investigators discovered 500 SIM cards from local telecommunications companies, allegedly used for criminal purposes.
Recruits underwent a two-week induction program to learn how to impersonate foreign women in online romance scam chats, convincing victims to invest in fake cryptocurrency platforms. Once victims were lured, the foreign operatives managed the fraudulent transactions, isolating the Nigerian recruits from the financial aspects of the operation.
Olukoyede, represented by EFCC Director of Public Affairs CE Wilson Uwujaren, stated, “Foreigners are exploiting Nigeria’s unfortunate reputation as a fraud haven to establish criminal enterprises. However, as this operation demonstrates, there will be no hiding place for criminals in Nigeria.”
The EFCC is collaborating with international partners to determine the full extent of the scam and uncover potential links to other organized fraud networks.
Call for Collaboration
Michael Wetkas, Acting Zonal Director of the Lagos Zonal Directorate, called for increased media cooperation in combating corruption and financial crimes.
The arrested suspects are expected to face charges upon the conclusion of the investigation. Meanwhile, the EFCC has reaffirmed its commitment to dismantling criminal networks and safeguarding Nigeria’s reputation on the global stage.
