In a significant breakthrough against cybercrime and cryptocurrency fraud, the Economic and Financial Crimes Commission (EFCC) has arrested 193 foreign nationals as part of an extensive operation targeting an international criminal syndicate operating in Lagos.
The raid, carried out last Tuesday at the Big Leaf Building on Oyin Jolayemi Street, Victoria Island, led to the apprehension of a total of 792 suspects, including the 193 foreigners, for their alleged involvement in online fraud schemes such as cryptocurrency investment scams and romance fraud.
EFCC’s Executive Chairman, Ola Olukoyede, speaking at a press conference at the agency’s Lagos Zonal Directorate, confirmed that the foreign suspects included 148 Chinese nationals, 40 Filipinos, and others from Kazakhstan, Pakistan, and Indonesia. Olukoyede was represented by Wilson Uwujaren, the EFCC’s Director of Public Affairs, who detailed the scope of the operation.
The building, which appeared to be a legitimate corporate office, served as a training hub for Nigerian accomplices, who were taught to perpetrate fraud through fake online identities.
The syndicate’s activities centered on coaching Nigerians to lure unsuspecting victims into investment scams, using platforms like WhatsApp, Instagram, and Telegram.
They led victims to a fraudulent website, www.yooto.com, where they were encouraged to make “activation” payments, starting at $35. Once the victims were hooked, the foreign masterminds took full control of the scam, leaving their Nigerian partners out of the final stages of the fraudulent transactions.
According to Olukoyede, the facility was equipped with high-end desktop computers on each floor, with the fifth floor alone containing over 500 SIM cards linked to Nigerian telecom networks.
The foreign nationals manipulated these resources to train their Nigerian associates in the art of online deception, further embedding their operations in Nigeria’s already tarnished reputation as a hub for cybercrime.
In addition to the foreign suspects, the EFCC also seized a variety of items from the raid, including computers, mobile phones, laptops, and vehicles.
These materials are now under forensic analysis as part of the ongoing investigation.
Olukoyede emphasised that while the scam was orchestrated by international criminals, it was important to highlight that not all frauds tied to Nigeria were committed by Nigerians, challenging the misconception that the country was the sole source of such illicit activities.
The EFCC chief also reassured the public that the commission is working with international partners to uncover the syndicate’s global network and bring all perpetrators to justice.
The suspects are being held under valid remand warrants and will face prosecution in due course.
“This operation sends a resounding message that criminals—whether local or foreign—will not find refuge in Nigeria,” Olukoyede said.
“We are committed to ensuring that those who attempt to exploit Nigeria for illegal activities will face the full force of the law.”
The EFCC remains resolute in its fight against financial crimes, aiming to restore the country’s global standing while securing justice for victims across the world.
