EFCC Busts Cybercrime, Romance Fraud Syndicate in Lagos, Arrests Scores of Foreign Nationals

•Recovers 500 local SIM cards   

•Says foreign criminals exploiting Nigeria’s unfortunate reputation

Wale Igbintade and Alex Enumah in Abuja

The Economic and Financial Crimes Commission (EFCC) has dismantled a major cryptocurrency investment fraud and romance scam syndicate in Lagos, arresting a total of 792 suspects during a landmark operation.

At a press conference held in Lagos, EFCC Chairman, Mr. Olanipekun Olukoyede, revealed that the operation, which took place on December 10, was carried out after months of surveillance and actionable intelligence.

The operation targeted the syndicate’s hideout, an imposing seven-story building known as “Big Leaf Building”, located at No. 7, Oyin Jolayemi Street, Victoria Island, Lagos.

Olukoyede, represented by EFCC’s Director of Public Affairs, Mr. UwujarenWilson, disclosed that the raid led to the arrest of foreign nationals, including 148 Chinese, 40 Filipinos, two Kazakhstanis, one Pakistani, and one Indonesian. 

He said the suspects were operating from “Big Leaf Building”, which, despite appearing to be a corporate headquarters, was actually being used to train Nigerian accomplices in various forms of online fraud, such as romance and investment scams.

According to the commission, the foreign nationals used Nigerian identities to further their criminal operations.

Olukoyede said during the operation, investigators discovered that all the floors of the building were equipped with high-end desktop computers.

On the fifth floor alone, investigators recovered 500 SIM cards from local telecom providers, which were purchased for illicit purposes.

The EFCC investigation also revealed that the Nigerian accomplices were recruited by the foreign kingpins to target victims, particularly, in countries, like the U.S, Canada, Mexico, and several European nations, using phishing tactics. 

According to EFCC, armed with desktop computers and mobile devices, the Nigerian operatives were trained to create fake profiles and engage victims through online communication platforms, such as WhatsApp, Instagram, and Telegram.

Olukoyede stated, “The Nigerian accomplices were given specific instructions and tools, including foreign phone numbers (especially from Germany and Italy) linked to WhatsApp accounts.

“Their role was to engage victims in romantic conversations or discussions about fictitious business opportunities to lure them into investing on a fraudulent online platform called www.yooto.com. The activation fee to join this platform started at $35.

“The recruitment of these young Nigerians was based on their proficiency in computer use, particularly typing skills. Successful candidates were given desktop computers and mobile devices and underwent a two-week training programme on how to impersonate foreign women for romance scams and convince victims to invest in cryptocurrency schemes.

“Once a Nigerian accomplice had gained the victim’s trust, the foreign scammers would take over the fraud, cutting off the Nigerian accomplice from the network. This left the accomplices unaware of the ongoing fraudulent activities.”

The EFCC chairman said investigation revealed that the Nigerian suspects were unaware of the actual owners of the company they worked for. 

“They did not receive formal appointments or payments through corporate accounts. Instead, they were paid in cash or through individual accounts,” he added.

Items recovered from the suspects included desktop computers, mobile phones, laptops, and vehicles.

Olukoyede said all the suspects had provided statements, and their devices were currently being examined. 

The suspects were also being held under a valid remand warrant and will be arraigned in court in the coming days.

Olukoyede emphasised that the operation disproved widespread notion that Nigerians were the primary perpetrators behind international fraud. 

He expressed concern over how foreign criminals were exploiting Nigeria’s unfortunate reputation as a fraud haven to establish operations that masked their illegal activities.

EFCC stated that further investigations were ongoing to assess the full scale of the scam and determine any potential connections to international fraud rings.