The EFCC has raised concerns over the growing presence of foreign fraud syndicates in Nigerian cities.
According to its chairman, Ola Olukoyede, these criminal groups are recruiting young Nigerians into cybercrime, particularly cryptocurrency fraud.
During a meeting with participants of the Executive Intelligence Management Course (EIMC) at the National Institute for Security Studies (NISS), Olukoyede revealed that these syndicates are not only engaging in online scams but may also be involved in smuggling weapons into the country.
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He stressed that the illegal flow of arms and minerals is fueling insecurity.
Recent EFCC operations in Lagos led to the arrest of 194 foreigners from various countries, including China, the Philippines, Tunisia, and Eastern Europe.
Many of them lacked valid visas and were conducting financial transactions primarily through cryptocurrency.
Some of those arrested were already convicted criminals in their home countries who had fled to Africa for refuge. Investigations suggest that similar fraud networks are developing in other African nations.
The EFCC has called for stronger collaboration among security agencies across Africa to tackle cybercrime and money laundering. The agency stressed that addressing these threats is crucial for national and regional security.
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Meanwhile, the National Institute for Security Studies commended the EFCC’s efforts in fighting corruption and financial crimes.
It acknowledged the agency’s role in uncovering hidden financial networks used to fund non-state actors, contributing to instability in Nigeria and beyond.
The EFCC remains committed to dismantling these criminal networks and ensuring accountability.
