Connect with us

News

EFCC Arrests 792 Suspects in Crackdown on Investment and Cryptocurrency Fraud

Published

on

The Chairman of the EFCC, Ola Olukoyede
Share

— Commission recovers ₦566bn, 1,502 properties in two years

The Economic and Financial Crimes Commission (EFCC) has announced the arrest of 792 suspects involved in investment and cryptocurrency-related fraud, as part of its intensified crackdown on cyber-enabled financial crimes across Nigeria.

The Chairman of the EFCC, Ola Olukoyede, represented by the Director of Public Affairs, Wilson Uwujaren, disclosed this on Thursday in Abuja during a press briefing to mark his second anniversary in office.

Olukoyede revealed that the syndicate included 192 foreign nationals, who were arrested alongside their Nigerian accomplices and later 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 stated.

The EFCC chairman emphasized that the development sends a strong signal to both local and international cybercriminals that Nigeria will not serve as a safe haven for financial crimes.

“This development conveys the message that Nigeria will not tolerate foreigners turning it into a safe haven for cybercrimes,” he added.

EFCC Performance Data

According to figures released by the anti-graft agency, between October 2023 and September 2025, the EFCC:

Received 19,318 petitions,

Conducted 29,240 investigations,

Filed 10,525 cases in court, and

Secured 7,503 convictions.

Olukoyede said these statistics demonstrate the Commission’s renewed focus on tackling complex financial crimes, including cyberfraud, money laundering, and investment scams.

Asset Forfeiture and Recoveries

The EFCC also secured the forfeiture of 1,502 real estate assets within the same period, comprising 402 in 2023, 975 in 2024, and 125 so far in 2025.

Among the major forfeited properties are 753 duplex units in Lokogoma, Abuja, and Nok University, which has since been renamed the Federal University of Applied Sciences, Kachia, in Kaduna State.

“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 stated.

In addition to asset forfeiture, the Commission recovered ₦566.3 billion and several foreign currencies during the two-year period.

Breakdown of the recovered funds includes:

₦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

R 50.00

₩73,000.00

Surge in Investment and Crypto Scams

Nigeria has witnessed a sharp rise in investment and cryptocurrency-related fraud over the past three years, with victims losing billions of naira to fake online trading platforms and digital asset schemes.

Most of these operations, disguised as legitimate investment opportunities, lure unsuspecting citizens with unrealistic profit promises and social media promotions, leading to devastating financial losses.

Olukoyede reaffirmed the EFCC’s commitment to curbing cyber-enabled crimes, recovering stolen assets, and restoring integrity to Nigeria’s financial system.

“Under my watch, the EFCC remains steadfast in the fight against economic and financial crimes. We are determined to recover stolen assets and strengthen public confidence in Nigeria’s financial institutions,” he said.

Crime

Release Chief Tayo Alabi, Let Justice Take Its Course — Osasuyi

Published

on

Share

 

 

 

The Aare Bobatolu of Ire Ekiti, Chief Oluwafemi Osasuyi, has appealed to security authorities to release Chief Tayo Alabi, who was reportedly arrested and detained by operatives of the Rapid Response Squad (RRS) of the Nigeria Police Force.

 

Chief Alabi was said to have been arrested on Tuesday over allegations linked to comments he allegedly made concerning what he described as the lack of support by Governor Biodun Oyebanji for Ire Ekiti-born politician, Bimbo Daramola, during the recently concluded APC House of Representatives primary election. He was later arraigned before an Ekiti State Magistrate Court on a charge of alleged stealing and subsequently remanded.

 

Reacting to the development, Chief Osasuyi expressed concern over the arrest and subsequent detention of Chief Alabi, describing the situation as unfortunate and capable of creating tension within the community.

 

He urged the relevant authorities to ensure Chief Alabi’s release while allowing due process to take its course, stressing that every citizen has the constitutional right to express opinions on political matters without fear of intimidation or harassment.

 

Chief Osasuyi also called for a thorough, transparent, and impartial investigation into the circumstances surrounding the arrest and the allegations against Chief Alabi to establish the facts and ensure that justice is served.

 

According to him, democracy flourishes when citizens are free to express their views and participate in political discussions within the ambit of the law.

 

The community leader further urged security agencies to exercise professionalism, fairness, and restraint in handling politically sensitive matters while safeguarding the rights of all citizens.

 

Chief Osasuyi appealed to residents and stakeholders in Ire Ekiti to remain calm, peaceful, and law-abiding, expressing confidence that the truth would emerge through due process and that justice would ultimately prevail.

Continue Reading

News

BAO Campaign Team Seeks Support for Oyebanji’s Re-election in Ado-Ekiti Community

Published

on

Share

 

 

 

 

The Special Outreach Team for the re-election of Governor Biodun Oyebanji has intensified its grassroots campaign with a visit to Iwaro Community in Ado-Ekiti.

 

The team, led by the Commissioner for Environment, Chief Tosin Aluko, engaged residents on the achievements of the Oyebanji administration and appealed for their support in the forthcoming governorship election.

 

Speaking on behalf of the community, High Chief Elemukose commended Governor Oyebanji for several development projects executed in the area. He cited the provision of a new transformer, road construction, installation of concrete electricity poles, solar street lights, and other infrastructure projects that have impacted Iwaro and neighbouring communities including Alafialoro, Wonder City, and Akinjobi.

 

The community leader, however, appealed to the governor to facilitate the immediate energisation of the newly installed transformer. He also requested the establishment of a Primary Health Care Centre, dualisation of roads, and grading of adjoining routes to improve the welfare of residents.

 

Addressing the gathering, Chief Tosin Aluko highlighted the administration’s achievements across key sectors and reiterated Governor Oyebanji’s commitment to the continued development of Ekiti State.

 

She urged eligible voters to collect their Permanent Voter Cards from June 2 and encouraged parents to ensure their children participate in the election process. According to her, the party is targeting about 500,000 votes in the election and called on community members to contribute towards achieving the goal.

 

The campaign outreach ended with residents expressing overwhelming support for Governor Oyebanji’s second-term bid and pledging to mobilise votes for his re-election.

Continue Reading

Education

First Lady, Oluremi Tinubu Commissions ICT Centre at EKSU, Reaffirms Commitment to Digital Empowerment

Published

on

Share

 

 

 

Nigeria’s First Lady and National Chairman of the Renewed Hope Initiative (RHI), Senator Oluremi Tinubu, on Saturday commissioned a state-of-the-art ICT Experience Centre at Ekiti State University, Ado Ekiti, describing the facility as a strategic investment in digital education, innovation and youth empowerment.

 

The ICT centre, which was facilitated through her Renewed Hope Initiative in partnership with Tetfund was part of efforts to expand access to technology and digital opportunities for young Nigerians.

 

Dignitaries at the event include, Wife of the Vice President, Hajia Nana Shettima, Ekiti State Governor, Mr Biodun Oyebanji, his Ondo State Counterpart, Mr Lucky Aiyedatiwa, Wife of Ekiti State Governor, Dr Olayemi Oyebanji, Deputy Governor, Chief (Mrs) Monisade Afuye, Senate Leader, Senator Opeyemi Bamidele among others.

 

Speaking while commissioning the ICT centre, Senator Tinubu said the facility would provide students and other beneficiaries with the skills and tools required to thrive in the digital economy and compete favorably in the global digital stage.

 

Stressing the importance of equipping young people with relevant technological knowledge to enhance innovation, entrepreneurship and national development, the First Lady noted that the ICT Experience Centre represents another milestone in the Renewed Hope Initiative’s interventions aimed at empowering women, youths and students across the country.

 

She expressed confidence that the facility would serve as a hub for learning, creativity and technological advancement within the university community and beyond.

 

“I’m really happy to be in Ekiti, this is part of the programme that the Tinubu administration is rendering in partnership with the Renewed Hope Initiative which I chair, and Tetfund, we were able to give this center to you and I pray that more will come to the state. We have done a lot of work in Ekiti State though the office of the First Lady”, the First Lady asserted.

 

 

Earlier in their separate remarks, the Chancellor of the University, Dr Tunji Olowolafe and the Vice Chancellor, Prof Babatola Ayodele, expressed profound gratitude to the First Lady for facilitating the project. They described the centre as a valuable addition to the state’s educational infrastructure and a testament to the Federal Government’s commitment to human capital development.

 

They maintained that the facility would significantly enhance digital learning, research and innovation and pledged to make effective use of the centre in advancing academic excellence and technological development at the university.

Continue Reading