The Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects linked to investment and cryptocurrency-related fraud across the country.
The EFCC Chairman, Ola Olukoyede, represented by the agency’s Director of Public Affairs, Wilson Uwujaren, disclosed this on Thursday in Abuja during a press briefing to mark his second anniversary in office.
According to Olukoyede, the syndicate included 192 foreign nationals, who were arrested alongside their Nigerian collaborators and prosecuted for cyberterrorism and cryptocurrency fraud.
“Another notable arrest and prosecution was the case of 792 investment and cryptocurrency fraud suspects apprehended in a sting operation in Lagos in December 2024. The syndicate included 192 foreigners, who have since been prosecuted for cyberterrorism and cryptocurrency fraud and deported,” he said.
He stressed that the arrests send a strong message that Nigeria will not serve as a safe haven for international cybercriminals.
“This development conveys the message that Nigeria will not tolerate foreigners turning it into a haven for cybercrimes,” he added.
Olukoyede also shared data highlighting the Commission’s performance between October 2023 and September 2025, revealing that the EFCC received 19,318 petitions, carried out 29,240 investigations, filed 10,525 cases in court, and secured 7,503 convictions.
He said these figures reflect the EFCC’s renewed focus on tackling complexq financial crimes, including cyberfraud, investment scams, and money laundering.
QThe EFCC chairman further revealed that the Commission secured the forfeiture of 1,502 real estate assets within two years — 402 in 2023, 975 in 2024, and 125 so far in 2025.
Among the most significant forfeited properties are 753 duplex units in Lokogoma, Abuja, and Nok University in Kaduna State, which has now been renamed the Federal University of Applied Sciences, Kachia.
“The total forfeited real estate assets in two years is 1,502 properties. The recovered property includes two notable landmarks: the final forfeiture of 753 duplexes in Lokogoma, Abuja, and the forfeiture of Nok University, now Federal University of Applied Sciences, Kachia,” Olukoyede said.
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He also disclosed that within the same period, the EFCC recovered over ₦566.3 billion, along with various foreign currencies.
“Under my watch, the Commission recovered ₦566,319,820,343.40, $411,566,192.32, £71,306.25, €182,877.10, CAD$5,510.00, AUD$740.00, ¥89,859.00, ₹1,300.00, CFA 8,381,375.00, AED 70.00, SAR 310,265.00, GH₵225.00, R50.00, and ₩73,000.00,” he said.
Olukoyede reiterated that the EFCC remains determined to combat cyber-enabled crimes, recover stolen assets, and restore integrity to Nigeria’s financial system.
In recent years, Nigeria has seen a spike in cryptocurrency and online investment fraud, with victims losing billions of naira to fake digital trading platforms and Ponzi-style schemes that promise unrealistic returns, often promoted aggressively on social media.
