Abuja: Operatives of the Nigeria Police Force National Cybercrimes Centre (NPF-NCCC) have arrested seven suspects over allegations of money laundering, sextortion, blackmail, online romance scams, and other internet-related frauds. The Assistant Inspector-General of Police (AIG) in charge of NPF-NCCC, Mr. Akaninyene Ezima, disclosed these arrests during a news conference.
According to News Agency of Nigeria, the arrest and investigation of one suspect followed a preservation request from the German Federal Police, Bundeskriminalamt (BKA), concerning a flagged internet protocol address linked to a sophisticated Business Email Compromise operation. The operation, code-named ‘Operation Broken Mask’, was executed in collaboration with the BKA and the Royal Canadian Mounted Police (RCMP) under the Budapest Convention 24/7 Network.
The NPF-NCCC reported that the operation, authorized by the Inspector-General of Police on June 23, led to the arrest of the suspect on July 20 at his residence in Megamound Estate, Lekki, Lagos. A search of the premises resulted in the recovery of digital devices for forensic examination, revealing over 12.5 million victim email logs from more than 50 countries. The suspect’s Bank Verification Number was linked to accounts in six financial institutions and fintech platforms, such as Guaranty Trust Bank and Zenith Bank, among others. A Mercedes-Benz AMG GLC 43, suspected to have been purchased with criminal proceeds, was also recovered.
Ezima stated that further investigations established the suspect’s involvement in a business email compromise scheme, which netted over N100 million. The suspect acquired phishing kits through Telegram, used to compromise Microsoft 365 login credentials of employees from targeted companies. A prima facie case of computer-related fraud, business email compromise, and identity theft, contrary to the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, has been established.
The NPF-NCCC also arrested a sole proprietor of a technology company for international cyber-enabled investment fraud and money laundering. The arrest followed a petition filed on May 11 by a law firm on behalf of Ms. Elizabeth Iruaregbon and Mr. Prince Iruaregbon, alleging criminal conspiracy and fraud resulting in a loss of N56.3 million. The investigation revealed fraudulent activities involving a WhatsApp-based stock trading platform, leading to blocked withdrawal requests after funds were transferred.
Further investigations revealed that the technology company served as a terminal off-ramp for proceeds from the syndicate, with a bank statement reconstruction showing inflows and outflows of N3.2 billion. Approximately N3.6 billion in suspected crime proceeds was converted into Tether (USDT) stablecoins, complicating the tracing and recovery efforts.
Additionally, the NPF-NCCC arrested two suspects in Anambra for conspiracy, identity theft, impersonation, and computer-related fraud. Following a report by Mr. Faruk Yabo, the Permanent Secretary of the Federal Ministry of Solid Minerals Development, the suspects were apprehended after an investigation revealed their involvement in impersonation and fraud using social media profiles. Various SIM cards and a toolkit were recovered from the suspects, who admitted to their roles in the fraud schemes.