The Economic and Financial Crimes Commission (EFCC) arrested 792 suspects, including 193 foreign nationals, during a surprise raid on Tuesday, December 10, 2024.
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The operation, conducted at the seven-story Big Leaf Building on No. 7 Oyin Jolayemi Street, Victoria Island, Lagos, underscores the federal government’s commitment to combating financial crimes under President Bola Ahmed Tinubu’s administration.
The EFCC’s operation followed months of surveillance and intelligence gathering, targeting a syndicate allegedly involved in romance scams and cryptocurrency fraud. Among those arrested were:
– 148 Chinese nationals
– 40 Filipinos
– Two individuals from Kazakhstan
– One Pakistani
– One Indonesian
The suspects reportedly used the facility, disguised as a corporate headquarters, to train their Nigerian accomplices in executing scams.
The syndicate operated by recruiting young Nigerians with advanced computer skills. After passing typing tests, recruits underwent a two-week training program on impersonating foreign women in romantic and business conversations. These scammers lured victims, predominantly from the U.S., Canada, Mexico, and Europe, into fraudulent investments via a platform named **www.yooto.com**, with activation fees starting at $35.
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Nigerian accomplices were provided with high-tech equipment, including desktop computers, mobile devices, and foreign communication logs, to access victims via platforms like WhatsApp, Instagram, and Telegram. Once a victim was hooked, foreign masterminds took over, ensuring Nigerian participants were cut off from the financial transactions.
During the raid, EFCC operatives discovered:
– Hundreds of high-end computers
– 500 SIM cards linked to local telecoms
– Mobile devices and laptops
– Luxury cars
This operation has shed light on the role of foreign nationals in exploiting Nigeria’s reputation as a hub for cybercrime. According to the EFCC, these foreign syndicates use Nigeria as a base, leveraging the country’s infrastructure to disguise their operations. The arrested individuals are currently held with valid remand warrants and will be arraigned in court soon. The EFCC is collaborating with international law enforcement agencies to unravel the full extent of the network and its global connections.
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