The Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects, including 193 foreign nationals, in a large-scale sting operation targeting cryptocurrency fraud and romance scam syndicates in Lagos.
EFCC Chairman, Ola Olukoyede, disclosed the details during a news conference on Monday, explaining that the operation, conducted on December 10, led to the apprehension of 148 Chinese, 40 Filipinos, two Kharzartans, one Pakistani, and one Indonesian.
According to Olukoyede, the suspects used a seven-story building in Lagos to train Nigerian accomplices in executing investment and romance scams, primarily through online platforms.
The raid, carried out on Victoria Island, also uncovered items including desktop computers, laptops, mobile phones, and vehicles believed to be used in the fraudulent activities. The EFCC stated that the suspects have made confessions, and their systems are currently under forensic analysis.
“They are being held with a valid remand warrant and will be arraigned in court in the coming days. This operation marks a major milestone in Nigeria’s fight against cybercrime and cryptocurrency investment fraud,” Olukoyede said.
He emphasized the increasing involvement of foreign nationals in cybercrime within Nigeria, often collaborating with local operatives.
The EFCC boss also called for stronger partnerships between Nigerian law enforcement agencies and international counterparts to combat such crimes effectively.
The agency reaffirmed its commitment to addressing cybercrime and protecting Nigeria’s digital and financial ecosystems.