The Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects involved in cryptocurrency fraud and romance scams during a surprise operation at a seven-story building in Victoria Island, Lagos. Among the suspects are 192 foreign nationals, including 148 Chinese, 40 Filipinos, and others from Kazakhstan, Pakistan, and Indonesia.
The suspects allegedly used the building as a base to train Nigerian accomplices in creating fake online profiles to defraud victims, primarily from North America and Europe. Investigators discovered sophisticated equipment, including desktop computers, 500 SIM cards, and foreign communication tools.
The operation revealed that young Nigerians were recruited for their computer proficiency and trained to impersonate foreign women to lure victims into fraudulent cryptocurrency investments. Once victims were convinced, the foreign masterminds took over, often cutting off the Nigerian recruits.
The EFCC emphasized that foreign criminals exploit Nigeria’s reputation for fraud to operate undetected but vowed to continue cracking down on such activities. Recovered items include computers, mobile phones, and cars. All suspects will be arraigned in court soon.
