Nigeria’s Economic and Financial Crimes Commission (EFCC) has uncovered a building allegedly housing 792 individuals involved in fraud and romance scams.
The suspects reportedly lured victims into transferring money for non-existent cryptocurrency deals.
Cryptocurrency, a form of digital currency, gained mainstream recognition between 2020 and 2021. It has become an alternative financial system, generating millions of dollars for creators and investors worldwide.
Reports reveal that the compromised location, a seven-storey building known as the Big Leaf Building in Lagos, Nigeria’s commercial capital, served as the operational hub for these scams.
Among the 792 suspects detained during the December 10, 2024, raid were 148 Chinese nationals and 40 Filipinos.
EFCC spokesperson Wilson Uwujaren, addressing reporters, explained that the building housed a call center primarily targeting victims in the Americas and Europe. He noted that scammers reached potential victims through social media platforms and encrypted messaging apps such as WhatsApp and Instagram.
The fraudulent scheme involved using online seduction to build trust with victims, who were then persuaded to send money for fake cryptocurrency investments. Uwujaren elaborated:
“Nigerian accomplices were recruited by foreign kingpins to search for victims online through phishing, targeting individuals in countries such as the United States, Canada, Mexico, and across Europe. Once trust was established, the foreign operators took over and executed the actual fraud.”
He added that the EFCC is working with international partners to investigate potential links to organized crime networks. During the raid, agents seized computers, mobile phones, and vehicles as part of the operation.
The EFCC emphasized its commitment to dismantling fraudulent networks and ensuring justice for victims globally.
