The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised alarm over the growing presence of organized foreign fraud syndicates in Nigerian cities. These criminal groups are recruiting young Nigerians into cybercrimes, including cryptocurrency fraud. Olukoyede highlighted recent intelligence that suggests these foreign syndicates are also involved in illegal arms trafficking, with cryptocurrency being used as a payment method.
During a meeting with participants of the Executive Intelligence Management Course from the National Institute for Security Studies, Olukoyede revealed that a recent EFCC operation in Lagos led to the arrest of 194 foreign nationals, including Chinese, Filipinos, Eastern Europeans, and Tunisians, many of whom were engaged in cybercrime and lacked valid visas. Some of these individuals were reportedly ex-convicts who had fled prosecution in their home countries.
Olukoyede also addressed the issue of small arms and light weapons flowing uncontrollably across Nigeria’s borders, fueling insurgencies and criminal activities. He called for coordinated efforts at the national and continental levels to combat these syndicates and their impact on Nigeria’s security.
He also expressed concern about the role of non-state actors, including some NGOs, in contributing to insecurity by funding insurgents and bandits. The EFCC has been investigating the financial networks that support these groups, especially in conflict zones like the North-East, and has placed stricter regulations on NGOs operating in these regions.
