The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns about the increasing presence of foreign fraud syndicates in Nigerian cities.
He revealed that these criminal groups are not only operating within the country but are also actively recruiting young Nigerians into cybercrime, including cryptocurrency fraud.
Olukoyede made these remarks while addressing participants of the Executive Intelligence Management Course from the National Institute for Security Studies. The session was led by the institute’s Director of Studies, Hyginus Ngele.
“Another dimension that is not given attention is the discovery, recently, that organised foreign fraud syndicates are establishing cells in Nigerian cities and recruiting young Nigerians into serious organized cybercrimes, including cryptocurrency fraud,” Olukoyede said.
He further noted that intelligence gathered by the EFCC suggests that some of these foreign criminals are also involved in arms smuggling. According to him, these individuals are using cryptocurrency transactions to illegally import weapons into the country.
Olukoyede revealed that during a special operation in Lagos, the EFCC arrested 194 foreigners in a single building located in Victoria Island. Among those apprehended were individuals from China, the Philippines, Eastern Europe, and Tunisia. Many of them lacked valid visas, and their financial dealings were primarily conducted through cryptocurrency.
Additionally, he noted that some of these foreigners had criminal records in their home countries and had relocated to Nigeria and other African nations to avoid prosecution.
The EFCC chairman raised concerns about how criminal groups, including insurgents and bandits, have been able to sustain their activities for years. He attributed part of the problem to the illegal flow of small arms and light weapons across Nigeria’s borders.
Olukoyede also addressed the issue of non-state actors exploiting Nigeria’s mineral resources illegally, further contributing to security challenges. He called for stronger collaboration between national and continental security agencies to combat these threats effectively.
“All security, intelligence, and law enforcement organizations in Nigeria and Africa must close ranks in dealing with this challenge,” he said.
He pointed out that Nigeria has been battling insurgency, banditry, kidnapping, and conflicts between farmers and herders for nearly two decades. He blamed some of these crises on the unchecked activities of non-state actors.
“At the level of the EFCC, we have always been suspicious of the activities of non-state actors in areas facing security challenges. In the North-East, for instance, the activities of local and international NGOs have come under scrutiny. This led to their mandatory registration with SCUML (Special Control Unit Against Money Laundering) and a directive to notify the EFCC on cash movements within the region,” he added.
