The Economic and Financial Crimes Commission (EFCC) has executed its largest single-day operation in a significant crackdown on cryptocurrency and romance scam networks, leading to the arrest of 792 individuals in Lagos. The arrests, which took place on Monday, December 16, 2024, occurred at a seven-story building in Victoria Island, where the suspects were allegedly involved in running complex cybercrime operations.

EFCC spokesperson Wilson Uwujaren confirmed the operation, revealing that the suspects included 114 Chinese nationals, 40 Filipinos, two Khazartans, and individuals from Pakistan and Indonesia. According to Uwujaren, the foreign nationals were using the building to train Nigerian operatives on how to run romance and investment scams. These foreign scammers allegedly created fake online profiles for their Nigerian accomplices, who then engaged unsuspecting victims in fraudulent conversations, primarily targeting individuals in the United States, Canada, Mexico, and Europe.

The building was equipped with high-end desktop computers, and over 500 SIM cards from Nigerian telecom operators were seized during the operation. The Nigerian suspects were trained to carry out phishing schemes through various messaging platforms, including WhatsApp, Instagram, and Telegram, to lure victims into bogus business deals and romantic relationships. Victims were then directed to a fake online investment platform, where they were asked to pay activation fees to participate in non-existent schemes.

The EFCC has secured valid remand warrants for all the suspects, who are currently in custody and are expected to be arraigned in court soon. This operation marks a significant step in the fight against cybercrime in Nigeria, as the EFCC continues to target both local and international fraud rings operating within the country.

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