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Police Arrest Seven Over ₦3.6 Billion Crypto Fraud, Romance Scams

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Police Arrest Seven Over ₦3.6 Billion Crypto Fraud, Romance Scams

Police Arrest Seven Over ₦3.6 Billion Crypto Fraud, Romance Scams

The Nigeria Police Force National Cybercrimes Centre (NPF-NCCC) has arrested seven suspects in a major crackdown on cyber-enabled financial crimes, including a staggering ₦3.6 billion cryptocurrency fraud, sophisticated business email compromise schemes, sextortion, blackmail, identity theft, and romance scams.

The arrests were announced on Wednesday by AIG Akaninyene Ezima, who heads the cybercrime unit, during a press conference in Abuja. The operatives, acting under the codename “Operation Broken Mask,” carried out the arrests in Lagos and Anambra States, with technical support from international law enforcement agencies including Germany’s Federal Police (Bundeskriminalamt – BKA) and the Royal Canadian Mounted Police (RCMP), under the framework of the Budapest Convention 24/7 Network.

According to the police, these arrests represent a significant victory in the ongoing battle against transnational cybercrime networks that use Nigeria as a base to defraud victims both locally and across the globe. The suspects are currently in custody and will face prosecution under Nigeria’s Cybercrimes Act and other relevant money laundering laws.

The first and most high-profile case involves a technology entrepreneur arrested in connection with a massive ₦3.6 billion cryptocurrency money laundering operation. The investigation was triggered by a formal petition from Ugwu Francisca & Co., acting on behalf of two victims, Elizabeth and Prince Iruaregbon. The complainants alleged that they had lost ₦56.3 million after being lured into a fraudulent WhatsApp-based stock trading platform that promised unrealistic high returns on investment.

Following a detailed forensic audit of financial transactions, investigators traced the victims’ funds to accounts linked to a technology company. The prime suspect, who was arrested on August 13 in Agiliti, Lagos, was identified as the proprietor of Kestart Technology. He reportedly admitted to operating the company and engaging in peer-to-peer cryptocurrency trading on the Bybit exchange. A review of the company’s account with Save Heaven Microfinance Bank revealed terminal cash-out inflows and outflows totaling ₦3.2 billion between October 2025 and May 2026 alone.

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More alarmingly, police forensic analysts discovered that approximately ₦3.6 billion in suspected criminal proceeds was systematically converted into Tether (USDT) stablecoins through Bybit peer-to-peer transactions. This conversion, the police say, was a deliberate attempt to launder the money and obscure the financial trail, making it harder for authorities to track and recover the stolen assets.

In another significant breakthrough, the NPF-NCCC arrested a suspect linked to a sophisticated business email compromise (BEC) scheme that targeted companies in over 50 countries. This arrest came after the German Federal Police (BKA) submitted a formal request for data preservation related to an internet protocol (IP) address allegedly used in the operation. The suspect was apprehended on July 20 at his residence in Megamound Estate, Lekki, Lagos.

Forensic examination of electronic devices recovered from the suspect’s home uncovered a chilling database containing over 12.5 million email logs belonging to victims spread across more than 50 nations. Investigators established that the suspect used phishing kits obtained through the encrypted messaging platform Telegram to compromise Microsoft 365 credentials of employees working for targeted companies. By gaining unauthorized access to corporate email systems, he was able to intercept sensitive business communications and redirect large financial payments into accounts he controlled.

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The financial scale of this BEC operation is equally staggering. The suspect’s Bank Verification Number (BVN) was linked to accounts maintained with six different financial institutions and fintech platforms, including Guaranty Trust Bank, Zenith Bank, FairMoney, Carbon, OPay, and PalmPay. Police allege that he made over ₦100 million from this fraudulent enterprise. A Mercedes-Benz AMG GLC 43, which investigators believe was purchased with proceeds from the crime, was also seized during the operation.

The police also arrested two individuals in Anambra State on charges of conspiracy, identity theft, impersonation, and computer-related fraud. This investigation commenced after a formal complaint was lodged by Faruk Yabo, the Permanent Secretary at the Federal Ministry of Solid Minerals Development, who reported that an unknown individual was impersonating him on WhatsApp and Facebook.

The two suspects were taken into custody on August 4 following extensive technical intelligence operations. During searches, law enforcement officers recovered a staggering haul of telecommunications materials: 24 registered and 33 unregistered MTN SIM cards, alongside 26 registered and 18 unregistered Airtel SIM cards, as well as an MTN toolkit. One of the suspects reportedly confessed to buying and selling both registered and unregistered SIM cards, and admitted to creating a fake social media account in the identity of a United Kingdom citizen, which was then used to defraud unsuspecting victims in India.

AIG Akaninyene Ezima emphasized that these arrests are part of a broader, sustained campaign by the NPF-NCCC to dismantle cybercrime networks operating within Nigeria and across international borders. He warned that cybercriminals would not find refuge in encrypted platforms or cryptocurrency, as the police are continuously strengthening their technical capabilities and deepening international partnerships.

The police have confirmed that all seven suspects will be charged in court upon the conclusion of investigations, facing counts that include money laundering, identity theft, computer-related fraud, and violations of the Cybercrimes Act.

Police Arrest Seven Over ₦3.6 Billion Crypto Fraud, Romance Scams

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NYSC, JAMB deepen collaboration on corps members’ mobilisation, data verification

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NYSC, JAMB deepen collaboration on corps members’ mobilisation, data verification

NYSC, JAMB deepen collaboration on corps members’ mobilisation, data verification

The National Youth Service Corps (NYSC) and the Joint Admissions and Matriculation Board (JAMB) have agreed to strengthen their collaboration, particularly in the mobilisation of prospective corps members, data sharing and the delivery of better services to Nigerian graduates.

The NYSC Director-General, Brigadier General Olakunle Nafiu, disclosed this on Thursday in Abuja when he received the JAMB Registrar and Chief Executive Officer, Professor Segun Aina, at his office.

Nafiu described JAMB as a major partner in the NYSC mobilisation process, noting that the board provides important primary data required for the online registration and verification of prospective corps members.

He commended JAMB for its continued support and said the NYSC valued the credibility of the board’s records and its existing digital data-sharing arrangement with the scheme.

“We thank the Management of JAMB for their support over the years. We believe so much in the credibility of JAMB, and we have enjoyed seamless API data sharing with JAMB,” Nafiu said.

The NYSC director-general also congratulated Aina on his appointment as JAMB Registrar, expressing confidence that his professional background and previous experience as a corps member who served with JAMB would strengthen the relationship between the two organisations.

Aina, in response, called for deeper cooperation with the NYSC to improve the services available to corps members and create greater value from their national service experience.

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The JAMB Registrar said his own experience during the NYSC programme had played an important role in shaping his career and preparing him for his current position.

He also assured the NYSC that JAMB would continue to protect the integrity of its database by maintaining strict standards for requests involving changes to candidates’ records.

However, Aina said the board was prepared to show flexibility in genuinely exceptional cases arising from the NYSC mobilisation process, provided such adjustments did not undermine the credibility of JAMB’s records.

One of the key developments discussed during the meeting was a proposed data-change framework involving JAMB, NYSC and the National Identity Management Commission (NIMC).

Aina disclosed that the three agencies were working on a framework that would make legitimate changes to candidates’ personal information more seamless.

The initiative is expected to improve coordination among government databases and potentially reduce the challenges faced by graduates when discrepancies occur in information such as names, dates of birth or other identifying details.

The proposed framework is also expected to provide a more coordinated process for resolving genuine data-related issues while maintaining safeguards against fraudulent alterations.

Beyond mobilisation and data management, JAMB is also seeking to make greater use of corps members in its customer service operations.

Aina requested that the NYSC consider deploying corps members to JAMB offices as customer service representatives, arguing that young graduates could help the board communicate more effectively with candidates and respond to their concerns.

“We want to speak directly to the young people, we want to speak the language of young people, and we need other young people to help us do it,” Aina said.

He added: “We want to build an army of customer service representatives by using Corps Members.”

The proposed arrangement could give corps members practical experience in customer service, communication and public administration, while helping JAMB improve its engagement with candidates.

This could be particularly useful given the volume of enquiries handled by JAMB on issues such as UTME registration, admission status, results, candidate records and data corrections.

The stronger relationship between the two agencies comes as the Federal Government continues to implement reforms aimed at improving the NYSC programme and making national service more relevant to the skills and career aspirations of young graduates.

The Federal Executive Council recently approved reforms to the NYSC, including changes designed to strengthen skills development, employability and productivity during the service year.

The reforms include a reorganisation of the orientation programme and the introduction of specialised areas intended to align corps members’ training with their academic backgrounds and career interests.

The broader changes are expected to position the NYSC as not only a platform for national integration but also an avenue for skills development, entrepreneurship and career preparation.

In this context, closer cooperation between NYSC and JAMB could help improve the transition from tertiary education to national service by ensuring that graduate records are accurately captured and verified before mobilisation.

The collaboration could also help reduce delays caused by discrepancies between records held by JAMB, tertiary institutions, NYSC and other government agencies.

For prospective corps members, accurate information remains particularly important because errors in admission or personal records can create difficulties during registration, verification and mobilisation.

The proposed involvement of NIMC could further strengthen the verification process by providing another layer of identity confirmation across government systems.

Both NYSC and JAMB are therefore expected to continue discussions on the proposed initiatives, with the focus on improving data integrity, reducing administrative difficulties and delivering more efficient services to Nigerian graduates.

The latest engagement also highlights the growing importance of inter-agency data sharing and digital verification in managing Nigeria’s large population of students and graduates.

As the government pursues reforms across the education and national service sectors, stronger coordination among JAMB, NYSC and NIMC could provide a more seamless pathway for eligible graduates from admission and graduation through mobilisation and national service.

NYSC, JAMB deepen collaboration on corps members’ mobilisation, data verification

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Four killed as disagreement sparks deadly unrest in Lagos community

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Four killed as disagreement sparks deadly unrest in Lagos community

Four killed as disagreement sparks deadly unrest in Lagos community

At least four men have been killed and several others injured after a disagreement reportedly escalated into communal unrest at Power Line Bus Stop, Ikola, in the Alimosho Local Government Area of Lagos State.

The incident occurred on Thursday and also resulted in a fire outbreak, with several makeshift structures reportedly destroyed during the unrest.

The Lagos State Emergency Management Agency (LASEMA) confirmed the deaths, saying its emergency response team was deployed to the area after receiving a distress call about the fire.

According to LASEMA Permanent Secretary, Dr Olufemi Oke-Osanyintolu, the agency received the distress call at about 1:52pm and arrived at the scene approximately 25 minutes later.

“Preliminary assessment and engagement with residents at the scene indicate that the incident followed a disagreement that escalated into communal unrest,” Oke-Osanyintolu said.

He confirmed that four adult males lost their lives, while several other people sustained injuries of varying degrees.

The exact circumstances surrounding the deaths remained under investigation as of Thursday.

A resident, who requested anonymity, told reporters that the initial disagreement allegedly involved a northerner and a man described as a former leader of a cult group in the community.

The resident claimed that the confrontation began after the northerner allegedly stabbed the former cult leader, triggering a wider confrontation.

According to the resident, the situation became serious enough for officers from the Meiran Police Division to request reinforcement.

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The allegation, however, had not been independently verified by the authorities, and the identities of those allegedly involved in the initial confrontation had not been officially disclosed.

As the situation escalated, a fire broke out and several makeshift structures were reportedly razed.

The Lagos State Fire and Rescue Service responded to the incident and eventually brought the fire under control. Firefighters also carried out damping-down operations to prevent the flames from spreading to surrounding structures.

Several injured people received emergency medical attention from the Agbado Oke-Odo Ambulance Service, the Nigerian Red Cross Society and other health responders.

Security agencies also mobilised to the community in an effort to restore order and protect residents and property.

LASEMA said a joint security operation involving the Nigeria Police Force, Nigerian Army, Nigeria Security and Civil Defence Corps (NSCDC) and Lagos Neighbourhood Safety Corps was activated following the unrest.

The chairman of the Agbado Oke-Odo Local Council Development Area also visited the area and participated in efforts to coordinate the response with community leaders.

According to LASEMA, normalcy has since returned to Ikola and neighbouring communities, although security personnel remain deployed to prevent further violence.

The emergency agency appealed to residents to remain calm, avoid reprisals and refrain from circulating unverified information capable of increasing tension.

Oke-Osanyintolu said a full investigation had commenced to establish both the immediate and underlying causes of the incident.

He added that anyone found culpable would be dealt with in accordance with the law.

The Ikola incident comes amid concerns over violent clashes and suspected cult-related activities in parts of Lagos, where disagreements between rival groups have sometimes escalated into deadly confrontations.

In another incident, the Lagos State Police Command arrested 18 suspects following a violent clash involving youths in Ilemba Hausa, Ojo.

The clash, which was captured in a video that circulated widely on social media, showed groups of young people throwing dangerous objects at one another as the confrontation intensified.

The police confirmed the arrests and said investigations were ongoing to establish the circumstances surrounding the incident.

The command has repeatedly urged residents to report suspicious activities and avoid taking the law into their own hands.

The latest violence in Ikola, Lagos, has renewed calls for stronger community-based security measures and early intervention when disputes threaten to escalate.

Authorities are expected to maintain security presence in the affected area while investigations continue into the deaths, injuries, destruction of property and events that triggered the unrest.

Residents have also been urged to cooperate with investigators and provide relevant information that could help identify those responsible for the violence.

Four killed as disagreement sparks deadly unrest in Lagos community

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Sunday Igboho Launches ‘Iru Ekun’ Security Outfit in Ogun, Says FG Will Train Members

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Sunday Igboho Launches 'Iru Ekun' Security Outfit in Ogun, Says FG Will Train Members

Sunday Igboho Launches ‘Iru Ekun’ Security Outfit in Ogun, Says FG Will Train Members

Yoruba Nation activist Sunday Adeyemo, popularly known as Sunday Igboho, on Wednesday formally inaugurated the Ogun State chapter of the Iru Ekun Security Network, a community-based security initiative aimed at tackling kidnapping, banditry, and other criminal activities across the South-West region.

The launch, held in a bustling area of Ogun State, attracted a massive turnout of supporters and volunteers, with reports indicating that thousands of individuals joined the initiative. Photographs and videos shared online showed hundreds of attendees dressed in matching black outfits and caps, gathered under tents and along streets, with many recording the proceedings on their mobile devices.

Speaking at the launch, Igboho outlined the structure and operational framework of the security outfit, emphasising that it would operate in collaboration with government authorities at both federal and state levels. He disclosed that the Federal Government would determine which agency would be responsible for training members of the security network, while the Ogun State Governor’s Office would decide where trained personnel would be deployed. He also revealed that every trained member would be issued an identification card at the local government level, enabling them to operate legitimately.

“Federal Government will decide who will come and train us. The Governor’s Office tell us where they will place us. As they wrap up that training, every person will be issued an ID card at the local government level,” Igboho told the gathering.

Igboho also revealed that the Ogun State Government had already given assurances of support for the initiative, including plans to determine a monthly allowance for members to help them provide for their families while carrying out their duties. This, he said, would enable volunteers to commit fully to the security work without neglecting their domestic responsibilities.

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“The Governor has also given us assurance. They have given us support here, and they will decide what monthly allowance to provide to us, to support us, because we have wives, and we have children,” he said.

The activist placed heavy emphasis on discipline among recruits, warning members against reckless behaviour or abuse of the authority that may come with their identification and training. He stressed that the success of the initiative depended on the character and conduct of its members, urging them to serve with integrity and restraint.

“You must have discipline. Do not engage in reckless behaviour or ruin things just because they have trained you and you have ID card,” Igboho cautioned.

Igboho framed the broader ambition of the initiative as securing official identification for members across the entire South-West, enabling them to operate legitimately while contributing to community safety and supporting their households. He drew a parallel with the Nigeria Security and Civil Defence Corps (NSCDC) , recalling how the organisation evolved from a humble community-based structure into a federally recognised security agency. He expressed confidence that the Iru Ekun Security Network could follow a similar trajectory if properly managed.

“This organisation we established, if we execute it properly—just like Civil Defence. They started at the market. We used to call them ‘Little Defence,’ but they did good work with what they were doing. The federal government have now fully established it across all of Nigeria,” Igboho said.

Iru Ekun, which translates to “leopard’s tail” in Yoruba, was established by Igboho as a community-based security initiative to complement existing efforts against kidnapping, banditry, and other criminal activities in the South-West. The name symbolises strength, agility, and resilience—qualities the group aims to embody in its operations. The Ogun State inauguration follows the launch of the outfit in Kwara State about a month ago, where Igboho declared that criminal elements would no longer be allowed to use the state’s forests as safe havens.

The launch comes amid continuing concerns over insecurity in parts of the South-West and renewed calls for stronger community participation in combating criminal activities. In a related development, the Ooni of Ife, Oba Enitan Adeyeye Ogunwusi , recently threw his weight behind the Iru Ekun Security Network with a donation of N100 million and a brand new Toyota Hilux vehicle. The monarch described Igboho as an illustrious and courageous son of Oduduwa whose commitment to promoting peace, security, and development deserved widespread support from all well-meaning individuals and institutions.

Igboho has also unveiled plans to convene a security summit for traditional rulers across the South-West, to be hosted by the Ooni in Ile Ife, where issues relating to security, unity, and other crucial matters capable of protecting and promoting the collective interest of Yorubaland will be discussed. The summit is expected to bring together monarchs, security experts, and community leaders to develop a comprehensive strategy for addressing the region’s security challenges.

The activist, who has been vocal about the need for community-driven security solutions, said the Iru Ekun Security Network would work closely with existing security agencies to ensure effective coordination and intelligence sharing. He expressed gratitude to the Ogun State Government for its support and called on other state governments in the South-West to embrace similar initiatives to strengthen regional security.

Sunday Igboho Launches ‘Iru Ekun’ Security Outfit in Ogun, Says FG Will Train Members

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