The Economic and Financial Crimes Commission (EFCC) has made its largest single-day operation, arresting 792 suspects allegedly involved in cryptocurrency and romance scams in Lagos.
The crackdown, which took place on December 10, 2024, occurred at a seven-storey building on Victoria Island, identified as a hub for fraud activities.
The suspects include 158 foreign nationals, including 114 Chinese nationals, 40 Filipinos, two Kazakhs, one Pakistani, and one Indonesian, all of whom were reportedly involved in training Nigerians to run scams.
EFCC spokesperson Wilson Uwujaren stated that the foreigners were instructing Nigerians on how to use fake profiles for romance and investment frauds. These fraudsters would then target victims, primarily in the U.S., Canada, Mexico, and Europe, convincing them to invest in fake platforms.
The operation uncovered advanced technology, including desktop computers and over 500 SIM cards, used in carrying out these scams.
The criminals utilised fake profiles on platforms like WhatsApp, Instagram, and Telegram, aiming to deceive victims into spending money on a counterfeit investment site, www.yooto.com.
Currently, the suspects are in custody pending arraignment. The EFCC has affirmed its commitment to tackling cybercrime.