Operation Details and Location
The Economic and Financial Crimes Commission (EFCC) has conducted a significant raid, arresting 792 individuals involved in cryptocurrency investment fraud and romance scams. The operation took place at the Big Leaf Building, a seven-story structure on No.7 Oyin Jolayemi Street, Victoria Island, Lagos, on December 10, 2024. According to Wilson Uwujaren, EFCC’s Director of Public Affairs, this raid was the result of meticulous surveillance and intelligence gathering.
The building where the suspects were arrested
Profile of the Suspects
Among those arrested were 148 Chinese nationals, 40 Filipinos, two individuals from Kharzart, one Pakistani, and one Indonesian, highlighting the international scope of the criminal network. The investigation revealed that these foreign nationals were using the building, disguised as a financial corporate hub, to train Nigerian collaborators in executing scams.
Modus Operandi of the Scam
The setup within the building was sophisticated, with each floor equipped with high-end computers. On the fifth floor alone, authorities seized 500 SIM cards intended for fraudulent communications. The Nigerian recruits were tasked with luring victims through online platforms, using fake profiles to engage in romantic or investment conversations on apps like WhatsApp, Instagram, and Telegram.
One of the offices in the complex where the foreigners were arrested for alleged fraud
Recruitment and Training
The recruitment process focused on individuals skilled in computer use, particularly typing. After passing a test, recruits underwent a two-week training to pose as foreign women or to manage investment scams. Once trust was established with victims, foreign members of the syndicate would take over, cutting off the Nigerian accomplices from further transactions, thus leaving them unaware of the full scale of the fraud.
Financial and Legal Actions
Payment to the Nigerian collaborators was informal, either in cash or through personal accounts, with no formal employment records. The EFCC is continuing its investigation to uncover more about the scam’s extent and possible international connections. Items seized include computers, phones, and vehicles, with the suspects currently detained and set for court proceedings.
International Collaboration and Implications
The EFCC is collaborating with foreign law enforcement to further dismantle this network. This operation underscores a broader point: while Nigeria has been known for cyber fraud, this case shows that international criminals are exploiting this reputation to conduct their operations from within the country. Uwujaren emphasized that this operation signals a strong stance against all forms of criminality in Nigeria, regardless of the perpetrators’ origins.
