The Economic and Financial Crimes Commission (EFCC) has achieved a major breakthrough in combating cybercrime with the arrest of 792 suspects linked to an extensive cryptocurrency investment fraud and romance scam syndicate.
In what the agency described as its largest operation to date, the suspects were apprehended on Tuesday, December 10, 2024, during a surprise raid at a seven-storey building known as Big Leaf Building, located at No. 7 Oyin Jolayemi Street, Victoria Island, Lagos.
According to EFCC spokesperson Wilson Uwujaren, the operation followed months of surveillance and actionable intelligence on the syndicate’s activities. Among those arrested were 148 Chinese nationals, 40 Filipinos, two Kazakhstanis, one Pakistani, and one Indonesian, alongside several Nigerians.
The EFCC revealed that the building, which resembled a corporate headquarters of a financial institution, was being used to train Nigerian accomplices in executing romance and investment scams. Foreign nationals allegedly taught their recruits how to use stolen Nigerian identities to perpetrate fraudulent schemes.
During the operation, investigators discovered high-end desktop computers across all floors of the building. On the fifth floor alone, they recovered 500 SIM cards from local telecommunications providers, believed to have been purchased for illicit purposes.
The EFCC described the syndicate as “deadly” and emphasized its sophisticated operation, which exploited advanced technology and global networks to target unsuspecting victims.
This landmark operation underscores the EFCC’s commitment to dismantling organized cybercrime in Nigeria, with further investigations ongoing to ensure those involved face justice.
