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EFCC Arrests 792 Suspects in Crackdown on Investment and Cryptocurrency Fraud

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The Chairman of the EFCC, Ola Olukoyede
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— 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.

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Bamidele: 2026 Electoral Act Reflects Stakeholders’ Consensus, Not Legislative Imposition

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Senate Leader, Senator Michael Opeyemi Bamidele
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The Leader of the Senate, Opeyemi Bamidele, has stated that the provisions of the 2026 Electoral Act were the outcome of broad consultations with stakeholders rather than unilateral decisions by the National Assembly.

In an Easter message issued on Sunday through his Directorate of Media and Public Affairs, Bamidele explained that the new electoral law aligns with global best practices and was not designed to serve any political interest. He urged political actors to adhere to the rules collectively established to ensure stability, peace, and order within Nigeria’s democratic system.

His remarks come amid criticisms from opposition parties, particularly the African Democratic Congress (ADC), which alleged that certain provisions—such as Sections 77 and 84 of the Act—were introduced to weaken their chances ahead of the 2027 general elections. However, Bamidele dismissed the claims, insisting that all sections of the law were products of consensus involving civil society groups, development partners, and other stakeholders.

He defended the requirement for political parties to submit a digital register of members to the Independent National Electoral Commission (INEC), describing it as a transparency measure aimed at preventing undue influence by individuals outside party structures. According to him, the reform is essential for strengthening internal democracy and ensuring that party decisions reflect the will of legitimate members.

Bamidele also justified the restriction of candidate nomination processes to either direct primaries or consensus arrangements, noting that the move is intended to eliminate the delegate system, which he said had been susceptible to manipulation by wealthy individuals. He added that the new system empowers party members and reinforces majority rule in line with democratic principles.

Beyond electoral matters, the Senate leader condemned recent violent attacks in Plateau and Kaduna states, describing them as unacceptable acts against innocent citizens. He assured that the National Assembly is collaborating with federal and state authorities to tackle insecurity and prevent further loss of lives.

He disclosed that ongoing legislative efforts, including amendments to the Terrorism (Prevention and Prohibition) Act, are aimed at introducing stricter penalties for kidnappers, their sponsors, and collaborators. Bamidele expressed confidence that these measures would help restore security and stability across the country.

Reflecting on Easter, Bamidele called on Nigerians, especially political leaders, to embrace the values of sacrifice, tolerance, and unity exemplified by the resurrection of Jesus Christ, urging a collective commitment to nation-building.

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FG to Deploy AI Cameras to Tackle Insecurity in Plateau — Tinubu

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President Bola Tinubu
President Bola Ahmed Tinubu
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President Bola Tinubu has announced that the Federal Government will deploy over 5,000 artificial intelligence-enabled digital cameras across Plateau State to help security agencies combat rising insecurity.

The President made this known on Thursday during a visit to Jos, following the March 29 gun attacks in Angwan Rukuba, Jos North Local Government Area, which claimed several lives. He assured residents that such incidents would not recur, pledging decisive action to bring perpetrators to justice.

Tinubu directed security chiefs, including the Minister of Defence, Chief of Army Staff, and Inspector General of Police, to track down those responsible for the killings. He also tasked the Minister of Communications and Digital Economy, Bosun Tijjani, with overseeing the immediate installation of the surveillance system, starting in Jos and later expanding across the state.

Expressing sympathy to affected families, the President said no compensation could replace lost lives but promised government support and justice. He also directed the Ministry of Humanitarian Affairs to compile data on victims to ensure fair distribution of relief.

Plateau State Governor Caleb Mutfwang described the incident as a temporary setback, noting that the state had previously enjoyed relative peace. He expressed confidence in ongoing security efforts and thanked the Federal Government for approving the recruitment of 1,000 forest guards to strengthen local security.

Stakeholders at the meeting, including former governors and political leaders, called for greater collaboration and dialogue among Plateau indigenes, stressing that lasting peace would require collective responsibility.

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El-Rufai Returned to ICPC Custody After Court Appearance in Kaduna

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Former Kaduna State Governor,Nasir El -Rufai
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Former Kaduna State governor, Nasir El-Rufai, has been returned to the custody of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) following court proceedings in Kaduna.

El-Rufai, who had earlier left custody on March 27, 2026, due to the death of his mother, was re-arraigned on Tuesday.

He first appeared before the Kaduna State High Court over a separate charge filed by the ICPC. However, proceedings were stalled due to the absence of the second defendant, prompting the court to adjourn the case until April 10, 2026.

Following the adjournment, El-Rufai was taken to the Federal High Court in Kaduna, where his application for bail was scheduled to be heard.

The court had earlier fixed March 31, 2026, for the hearing of his bail application.

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