Olukoyede: Organised Foreign Fraud Syndicates Establishing Cells in Nigeria

Alex Enumah in Abuja

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola  Olukoyede has alerted Nigerians that organized foreign fraud syndicates are establishing cells in Nigerian cities and recruiting young Nigerians into serious organized cybercrimes, including cryptocurrency fraud.

Olukoyede made the disclosure on Wednesday, in Abuja on Wednesday, when he received participants of the Executive Intelligence Management Course (EIMC 18) of the National Institute for Security Studies (NISS), led by the Director of Studies, Hyginus Ngele to the Commission. 

In a statement, the EFCC’s boss expressed surprise on how bandits and insurgents are able to sustain their activities over the years, stressing that the flow of small arms and light weapons across Nigeria’s borders and the involvement of non-state actors in the illegal exploitation of minerals in parts of the country all compound the threats in the security landscape.

The statement signed by the Head, Media and Publicity, Mr Dele Oyewale, observed that a lot of these foreign fraudster are responsible for the importation of illegal arms into the country using cryptocurrency as means of payment.

“In the special operations we carried out in Lagos recently, we arrested 194 foreigners in the heart of Victoria Island. One hundred and ninety-four of them, Chinese, Filipinos, Eastern Europeans, Tunisians and the like in one building at a time. You can imagine what these guys are doing, 194 of them. Some of them don’t even have valid visas and most of the financial activities they carried out they did through cryptocurrency. 

“Another thing that we discovered is that some of the foreigners we arrested were already ex-convicts in their countries. Some of them have been convicted and escaped from their countries and found safe haven in Africa, not only Nigeria. We discovered that they are also developing cells in some other African countries by virtue of the investigation we are carrying out,” Olukoyede said.

The chairman pointed out that at the level of the EFCC, they have always been suspicious of the activities of non-state actors in the areas where the country is challenged security-wise.

“In the Northeast for instance, the activities of local and international NGOs have been under focus. This was a major impetus for the decision to mandate their registration with SCUML, Special Control Unit against Money Laundering,  a department in EFCC, and a clear directive to notify the Commission on cash movements within the region,” he said.

Earlier in his speech, NISS Commandant, Joseph Obule Odama who spoke through Ngele  praised Olukoyede’s leadership of the EFCC for the Commission’s “remarkable achievements in combating corruption, money laundering, and other financial crimes,” noting that the achievements “have not only strengthened Nigeria’s integrity but have also served as a model for other nations in Africa and beyond.”

He further noted that the EFCC, under Olukoyede, has been at the forefront of investigating and prosecuting financial crimes, including those involving non-state actors.

“Your Commission’s exploratory activities have uncovered the intricate networks through which some NGOs and other entities channel funds to support hostile non-state actors, thereby fueling instability in various parts of the country and the African Continent.

“We recognize the critical role the EFCC plays in disrupting these networks and ensuring accountability. In light of this, we are particularly interested in hearing your insights on how your Commission navigates the complexities of investigating and prosecuting cases involving non-state actors.

“ We also seek your contributions on how Nigeria and other African nations can strengthen legal and institutional frameworks to address the challenges posed by these actors while promoting transparency and accountability in their operations”.

Members of the NISS EIMC 18, comprised 74 senior officers, drawn from Nigeria’s intelligence community, the military, law enforcement agencies, including the EFCC, strategic government ministries, and representatives from the federal and state governments and international participants from Ghana, Somalia, Rwanda, and The Gambia.

The theme for EIMC18 is “Non-state Actors in Security Management: Issues, Challenges, and Prospects for Peace and Development in Africa,” which according to Ngele “was carefully selected in recognition of the growing influence of non-state actors in shaping the security landscape across the continent.”