The Economic and Financial Crimes Commission (EFCC) has arrested 792 suspects, including 148 Chinese nationals, 40 Filipinos, and other foreign nationals, for their alleged involvement in cryptocurrency investment fraud and romance scams in Lagos.
According to the EFCC Chairman, Ola Olukoyede, the commission carried out a landmark raid at the seven-storey Big Leaf Building on No. 7 Oyin Jolayemi Street, Victoria Island, Lagos, where the suspects were arrested.
The building, which could be mistaken for the corporate headquarters of a financial establishment, was used by foreign nationals to train their Nigerian accomplices on how to initiate romance and investment scams.
Olukoyede stated that the foreign nationals exploited Nigeria’s reputation as a hub for online fraud to disguise their criminal enterprises. “These foreigners are taking advantage of our nation’s unfortunate reputation as a haven of frauds to establish a foothold here to disguise their atrocious criminal enterprises,” he said.
The EFCC boss also noted that the arrest showed that not all scams originating from Nigeria were carried out by Nigerians. He emphasized that the commission was working with international partners to identify connections to global crime networks, stressing that the suspects were being held under valid remand warrants and would face prosecution soon.
During the raid, the EFCC seized numerous items, including desktop computers, mobile phones, laptops, and vehicles from the suspects. The commission also discovered high-end desktop computers on every floor, with the fifth floor alone housing 500 SIM cards linked to local telecom networks.
Olukoyede said, “This operation sends a clear message: criminals, whether local or foreign, will find no hiding place in Nigeria”.
