The Economic and Financial Crimes Commission (EFCC) has issued a nationwide warning over a highly organised fraudulent scheme exploiting fake foreign airline ticket discount promotions to defraud Nigerians.

In a statement released on Friday by Dele Oyewale, Head of Media and Publicity, the commission cautioned the public to exercise utmost vigilance as the scams employ both malware and social engineering tactics to compromise victims’ accounts.

According to the EFCC, fraudsters lure victims with enticing offers labelled as “Promo” or “Investment Windows,” tricking them into divulging sensitive personal and financial information. 

Malware then grants the criminals unauthorised access to victims’ bank accounts, from which funds are transferred into accounts largely held by Fintech Institutions and laundered through cryptocurrency transactions.

One case cited involved a “promo” claiming to offer a 50 per cent discount on flight tickets from a well-known foreign airline. Victims were asked to pay a token “charity fee” of ₦500, providing the scammers with a foothold to collect personal details. 

They were then directed to download a counterfeit airline application that enabled the theft of data and subsequent unauthorised transfers to accounts in microfinance banks.

The commission further revealed the extensive involvement of a network of young Nigerians, known as “Account Suppliers” or the “KYC Group,” who are paid between ₦1,500 and ₦2,000 to gather personal identity documents from unsuspecting individuals. 

These details, which include NIN registration slips, BVN, passport photographs and other identification, are resold to Fintech companies for about ₦5,000. Such information is used to open new accounts that enable investment scams and other criminal activities. Intelligence reports suggest there are up to 12,000 such account suppliers operating nationwide.

The EFCC confirmed that arrests have been made in connection with the fraudulent promotions and account suppliers, with ongoing efforts to recover stolen funds.

The commission called on Nigerians to remain alert and warned against acting as “Account Donors” for any purpose, stressing that doing so poses a serious threat to national security.