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Internet Fraud: EFCC, FBI Recover $314,000, N373m


The acting Chairman of the Economic and Financial Crimes Commission, EFCC, Ibrahim Magu, Tuesday disclosed that the collaboration between the Commission and the Federal Bureau of Investigation, FBI, has led to the recovery of the sums of $314,000 and about N373,000,000.00 from perpetrators of computer-related fraud.

Magu also explained that while the sum of $314,000 had been recovered, the sum of N373m had been traced to various commercial banks by the Lagos Zonal office of the Commission.

EFCC Head, Media and Publicity, Wilson Uwujaren said this in a statement made available to newsmen in Abuja.

He also disclosed that the recent joint operations coordinated by the Commission had yielded 28 arrests, adding that 14 suspects had been charged and convicted.

He added, “Nine of the suspects are currently undergoing trial, while five are still under investigations.

“Over 80 cases are still under investigation from the EFCC-FBI joint operations.”

But Magu said the Lagos zone of the commission, prior to the collaborative efforts with the FBI, had independently launched a sustained operation on perpetrators of various computer-related frauds.

He said: “From 2018 to date, the EFCC had launched a sustained operation on perpetrators of various computer-related frauds, which resulted in over 200 arrests, 130 convictions and recovery of a large number of exotic cars and properties suspected to have been acquired through the proceeds of crime.“We had independently launched intensive investigative actions against the infamous Yahoo yahoo boys culminating in various strategic raids and onslaught on their hideouts.“Our efforts in this regard have recorded tremendous successes leading to a number of arrests, prosecutions and convictions.“



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