The Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has issued a stern warning regarding the increasing establishment of foreign fraud syndicates setting up cybercrime cells within Nigeria. The EFCC, Nigeria’s premier anti-corruption and financial crimes agency, has identified an alarming trend in which international criminal organizations are exploiting the country’s growing digital landscape to engage in sophisticated cybercrimes.
In a recent statement, Chairman Bawa expressed concern over the rising number of foreign-based fraud syndicates infiltrating Nigeria’s cyberspace, using it as a base for illicit financial activities. These groups are utilizing advanced technologies to carry out a range of cybercrimes, including data theft, online fraud, identity theft, and cyber extortion.
"The EFCC has detected disturbing evidence that organized criminal groups from abroad are setting up operations within Nigeria to perpetrate global cyber fraud," Bawa said. "These syndicates are exploiting the country's emerging digital economy, using local agents, resources, and infrastructures to conduct large-scale fraud targeting both Nigerian citizens and international victims."
The EFCC Chairman further explained that these fraud syndicates are collaborating with local criminals to exploit vulnerabilities in the Nigerian financial system and technological infrastructure. They have been using various methods such as phishing scams, ransomware attacks, fake online investment schemes, and social engineering tactics to defraud individuals and businesses worldwide.
"This development poses a serious threat not only to Nigeria’s reputation as a growing tech hub but also to the safety and security of citizens globally," Bawa added. "We are working tirelessly with our international law enforcement partners, including Interpol and cybercrime agencies from other countries, to dismantle these networks and prevent further damage."
The EFCC is calling on the public to remain vigilant and report any suspicious online activity to the commission. Chairman Bawa also urged Nigerians to strengthen their digital security practices and to be cautious when interacting with unknown individuals or online platforms.
"Cybercrime is a global issue that requires collective efforts. While the EFCC is committed to tackling these crimes head-on, the role of the general public in securing personal and financial information is crucial," Bawa concluded.