On December 10, 2024, a major operation conducted by the Economic and Financial Commission of Nigeria (EFCC) resulted in the arrest of 792 individuals suspected of involvement in investment and romance scams. The operation took place at the Big Leaf Building, a seven-story building located on Oyin Joleimi Street in the prestigious Victoria Island area.
According to the chairman of the EFCC, Olukoyede, among those detained were 148 Chinese citizens, 40 Filipinos, and immigrants from Kazakhstan, Pakistan, and Indonesia. Foreign organizers utilized a building designed to look like a corporate office to train Nigerian participants in the deceptive methods of the scheme.
During the operation, EFCC employees discovered 500 SIM cards from local communication operators on the fifth floor of the building, intended for use in criminal activities. Nigerian accomplices were found to be engaging in the search for victims through phishing attacks on social networks and instant messengers like WhatsApp, Instagram, and Telegram.
The main targets of the scam were citizens of the USA, Canada, Mexico, and European countries. To engage victims, the “WWW.YOOTO.Com” platform was utilized, where individuals were encouraged to open an account for $35. After convincing people to invest, foreign organizers took control of the process, cutting out local participants from the chain.
The EFCC chairman highlighted that Nigerian accomplices were unaware of the true owners of the fraudulent company and received payment in cash or through personal accounts. It was also noted that foreigners exploit Nigeria’s reputation by establishing bases for their criminal activities. Olukuyede affirmed that the EFCC will continue to combat fraud, working closely with international partners.
Items confiscated from the suspects included tablet computers, mobile phones, laptops, and cars. Once the investigation is concluded, the case will be forwarded to the court for further action.