The {Economic} and {Financial} Crimes Fee (EFCC) has introduced the arrest of 120 suspected web fraudsters, comprising 95 males and 25 females, at varied places in Lagos.
Operatives of the Lagos Zonal Directorate 1 of the EFCC facilitated the arrest, in response to an announcement by the Fee on Monday.
The suspects have been stated to be arrested on Monday, Could 19, 2025, following credible intelligence and thorough surveillance concerning their alleged involvement in internet-related fraud.
The EFCC disclosed that objects recovered in the course of the coordinated operation embody 26 unique vehicles and costly jewelries, smartphones, laptops, and a number of other incriminating paperwork.
Recall that operatives of the {Economic} and {Financial} Crimes Fee, EFCC, had on March 24, 2025, arrested 133 suspects, after busting a Ponzi Scheme Academy in Abuja, hinting at their arraignment.
In accordance with the Fee, the suspects have been arrested on the Compensation Structure within the Gwagwalada space of the Federal Capital Territory, FCT, Abuja, following actionable intelligence on the existence of the Academy.
The EFCC had disclosed that it carried out the operation in collaboration with officers and males of the 176 Guards Battalion, Nigerian Military.
The event is going on about months after the EFCC disclosed the arrest of 28 alleged Ponzi scheme operators in Minna, Niger State.
The invoice proposed by the Nigerian SEC beneath Mr. Emomotimi Agama proposed a 10-year jail time period for convicted Ponzi scheme operators and about $12,000 (20 million) in fines.
It was sponsored by Senator Bamidele Opeyemi and co-sponsored by Izunaso.
