The Economic and Financial Crimes Commission (EFCC) has made its largest single-day arrest, apprehending 792 suspected crypto fraudsters in Lagos. The operation, which took place on December 10, 2024, targeted a seven-storey building known as Big Leaf Building on Oyin Jolayemi Street, Victoria Island, Lagos ¹ ².
According to Ola Olukoyede, EFCC Executive Chairman, the suspects include 148 Chinese nationals, 40 Filipinos, two Khazakhstanians, one Pakistani, and one Indonesian ¹ ². The foreign operatives reportedly collaborated with Nigerian accomplices to execute the elaborate schemes.
Modus Operandi
The suspects operated out of the Big Leaf Building, which appeared to be a corporate headquarters but was equipped with sophisticated tools for fraud ¹. They used fake online profiles to target victims in the United States, Canada, Mexico, and Europe. Once a victim showed interest, an activation fee of $35 was charged, and from there, they were lured into making larger investments in the fraudulent cryptocurrency scheme ¹.
Investigation and Aftermath
The EFCC revealed that young Nigerians were recruited based on their computer proficiency, particularly their typing skills ¹. They underwent a two-week induction program where they learned to pose as foreign women and engage victims in romantic or business conversations via WhatsApp, Instagram, and Telegram ¹.
Items seized during the operation include desktop computers, mobile phones, laptops, and cars ¹. The suspects will face legal action after investigations are concluded ¹. The EFCC is working with international partners to assess the scope of the fraud and uncover potential links to global crime networks ¹.
Reaction
Michael Wetkas, acting Zonal Director of the Lagos EFCC Directorate, called for greater media collaboration in combating economic crimes ¹. The EFCC Chair, Ola Olukoyede, emphasized that foreigners are taking advantage of Nigeria's reputation to establish criminal enterprises in the country ².
The EFCC's operation has sparked reactions from Nigerians, with some expressing concern about the scale of the operation and the potential impact on the economy ². Others have commended the EFCC for its efforts in combating cybercrime ².
