Operatives of the Nigeria Police Force National Cybercrimes Centre (NPF-NCCC) have arrested seven suspects over money laundering, sextortion, blackmail, online romance scam and other internet related frauds.
The Assistant Inspector-General of Police (AIG) in charge of NPF-NCCC, Mr Akaninyene Ezima, disclosed this during a news conference on Wednesday in Abuja.
He said the arrest and investigation of one the suspects followed a preservation request received from the German Federal Police, Bundeskriminalamt (BKA) on Feb. 17, over a flagged internet protocol address linked to a sophisticated Business Email Compromise operation.
He said the syndicate was investigated under the code-name ”Operation Broken Mask”.
Ezima said the operation was executed in collaboration with the BKA and the Royal Canadian Mounted Police (RCMP), under the Budapest Convention 24/7 Network.
According to him, through subscriber checks, Bank Verification Number and other investigative processes, the individual behind the activities was identified.
The NPF-NCCC said the operation, authorised 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.
He said a search of the premises was conducted and digital devices were recovered for forensic examination that showed over 12.5 million victim email logs, with victims identified across more than 50 countries.
”The suspect’s Bank Verification Number was linked to accounts maintained with six financial institutions and fintech platforms, including Guaranty Trust Bank, Zenith Bank, FairMoney, Carbon, OPay and PalmPay.
”A Mercedes-Benz AMG GLC 43 suspected to have been acquired with proceeds of crime was recovered.
”The investigation established that the suspect operated a business email compromise scheme through which he obtained phishing kits from a vendor on Telegram.
”He uses the kits to compromise Microsoft 365 login credentials belonging to employees of targeted companies,” he disclosed.
The NPF-NCCC boss said further investigations had established that the suspect made in excess of N100 million from the criminal enterprise.
He also said that a prima facie case of computer-related fraud, business email compromise and identity theft, contrary to the Cybercrimes (Prohibition, Prevention, etc.) Act, 2024, had been established against the suspect.
Ezima further said that operatives of the NPF-NCCC had also arrested a sole proprietor of a technology company over international cyber-enabled investment fraud and money laundering.
He said the suspect was investigated and arrested following a petition on May 11 by a Law Firm, Ugwu Francisca & Co. on behalf of Ms Elizabeth Iruaregbon and Mr Prince Iruaregbon.
He explained that the petition alleged criminal conspiracy, advance fee fraud, identity theft and money laundering, resulting in the fraudulent loss of a cumulative sum N56.3 million.
He said the investigation established that Iruaregbon was induced to participate in a fraudulent WhatsApp-based stock trading platform which promised high returns.
According to him, between March 25 and April 22, the complainants transferred a cumulative sum of N56.3 million into designated accounts operated by the syndicate, after which their withdrawal requests were blocked.
”The sum of N23.6 million was traced to JPM Enterprise Trading, Kuda Bank, while another N18.5 million, was traced to Ahmad Digital Business, Nomba MFB, and N14.2 million to JPM Pro Online Venture, VFD MFB/FalconPa,.
”Preliminary investigation further revealed that a technology company owned and operated by the suspect served as a terminal off-ramp for proceeds associated with the syndicate.
”A reconstruction of the bank statement of the company’s account with Save Heaven Microfinance Bank, Account No. 0110648352, between Oct. 30, 2025 and May 31 2026 established total terminal cash-out inflows and outflows of N3.2 billion.”
The AIG said that the amount included direct inward transfers of N67.2 million from Ahmad Digital Business and N11.3 million from JPM Pro Online Venture.
According to him, further investigation revealed that approximately N3.6 billion in suspected proceeds of crime was converted into Tether (USDT) stablecoins through Bybit Peer-to-Peer transactions, making tracing and recovery of the proceeds more difficult.
”Following intensive and coordinated technological investigations, operatives of the NPF-NCCC arrested the suspect on Aug. 13 at No. 5 Olaniyi Street, Agiliti, Lagos.
”During interrogation, the suspect admitted ownership of Kestart Technology and involvement in Peer-to-Peer cryptocurrency trading on Bybit.
”Further checks with the Corporate Affairs Commission and examination of a Save Heaven Microfinance Bank Board Resolution dated Oct. 22, 2025 confirmed the suspect as the sole proprietor and sole operational signatory of Kestart Technology.”
Ezima said operatives of the centre also arrested two suspects in Anambra over conspiracy, identity theft, impersonation and computer-related fraud.
He said the suspects were arrested following a report by Mr Faruk Yabo, the Permanent Secretary, Federal Ministry of Solid Minerals Development.
The NPF-NCCC boss said the complainant had alleged that the holder of GSM Number 09129288116 had stolen his identity and was impersonating him on WhatsApp and Facebook.
According to him, upon receipt of the complaint, operatives of the centre on Aug. 4 commenced a discreet investigation.
He said the suspects were arrested on Aug. 4, following sustained investigative efforts, supported by technical intelligence.
Ezima said 24 registered and 33 unregistered MTN SIM cards, 26 registered and 18 unregistered Airtel SIM cards and one MTN toolkit were recovered from the suspects.
He said one of the suspects admitted being a registered toolkit operator with MTN and Airtel Telecommunications and engaging in the buying and selling of registered and unregistered SIM cards.
He said the suspect further admitted creating a social media profile using the identity of ”Catherine Harry”, purportedly a United Kingdom citizen, with the intention of defrauding individuals in India. (NAN)
