In December 2024, the Economic and Financial Crimes Commission (EFCC) conducted a significant operation in Lagos, arresting 792 individuals for their alleged involvement in cryptocurrency investment fraud and romance scams. Among those apprehended were 148 Chinese nationals, 40 Filipinos, and other foreign citizens. The suspects were detained at the Big Leaf Building on Oyin Jolayemi Street, Victoria Island, which was reportedly used as a hub to train Nigerian accomplices in initiating fraudulent online relationships and investment schemes.

The EFCC revealed that the foreign nationals recruited and trained young Nigerians to engage potential victims, primarily from the Americas and Europe, through platforms like WhatsApp, Instagram, and Telegram. The Nigerians would establish trust with the victims, after which the foreign collaborators would take over, convincing them to invest in fake cryptocurrency platforms. Items recovered during the raid included desktop computers, mobile phones, laptops, and vehicles.

Following this operation, in January 2025, the EFCC arrested an additional 105 individuals in Abuja, including four Chinese nationals, for their alleged involvement in an internet fraud scheme targeting hotels in Europe and other regions. The suspects were believed to be operating a hotel review job scam.

These arrests underscore the EFCC's ongoing efforts to combat cybercrime and protect Nigeria's reputation on the global stage.