VANGUARD
ON December 10, 2024, something incredible happened in Lagos, the nation’s commercial capital. The Economic and Financial Crimes Commission (EFCC) made headlines by arresting 792 people in one day for being part of a massive scam.
This wasn’t just any scam; it involved people from many countries, including 148 from China and 40 from the Philippines, all operating from a seven-storey edifice called the Big Leaf located at No. 7, Oyin Jolayemi Street, Victoria Island.
This operation not only captured the attention of the nation but also raised serious questions about cybercrime and its impact on people everywhere.
A Bust to Remember
The EFCC didn’t just stumble upon this operation; they had been gathering information and watching the suspects for an entire month. They had received tips from concerned citizens and international partners who suspected something was wrong.
When they finally raided the Big Leaf Building on Victoria Island, they found a treasure trove of evidence—computers, mobile phones, laptops, and even 500 SIM cards that were used to trick people into sending money. The building had become a hub for cybercriminals, and the EFCC was determined to put a stop to it.
Wilson Uwujaren, EFCC’s Director of Public Affairs, stated: “This operation marks the largest number of arrests in a single day in our history. What makes this operation unique is the involvement of a large number of foreigners conducting fraudulent activities within Nigeria. We received intelligence about the situation and placed the property under surveillance for over a month before taking action.”
The Story of Adeola & Co.
Hundreds of young Nigerians involved in the network simply wanted jobs and ended up in a scam without realising it. Among those arrested was a young man named Adeola. At just 24 years old, he was a bright-eyed graduate of Lagos State University, full of dreams of starting his own business.
Like many young people in Nigeria, Adeola was eager to find a good job that would allow him to support his family. He had just finished his National Youth Service Corps (NYSC) and was excited about the future when he received a job offer as a marketer that seemed too good to be true.
“I was promised a good salary to help my family,” Adeola told the EFCC during questioning.
He didn’t realise that he was being pulled into a scam where he had to pretend to be someone else – a young woman; luring people from other countries into fake investment schemes. Initially, he thought he was just doing marketing, but soon he found himself engaging in shady activities.
“I was shocked to learn that everything was a lie. I never meant to hurt anyone,” he explained.
The Big Raid
When the EFCC arrived at the Big Leaf Building, it was a scene of chaos. Adeola felt scared and confused.
“I never thought I’d end up in a place like this. At first, I was just doing my job, but it felt wrong. I didn’t know how deep I was in until it was too late. But I stayed back to receive my salary at the end of December before I quit,” he said, reflecting on the moment when authorities stormed the building.
The agents moved quickly, seizing computers, documents, and phones. They were determined to gather enough evidence to prosecute everyone involved. As the reality of the situation sank in, Adeola realised that he and many others were caught in a web that they could hardly escape.
Understanding the Scam: The Modus Operandi
The scam syndicate operated with a well-thought-out plan. They recruited young Nigerians like Adeola, promising them legitimate marketing jobs. Once hired, these recruits were trained to use the art of seduction and phishing tactics to lure victims—primarily from the Americas and Europe—into fake cryptocurrency investment schemes.
A key part of the scam was the $35 activation fee. Victims were told they needed to pay this fee to start their investment journey, lured by promises of high returns. After the initial contact which included winning the trust and confidence of the victims, the foreign operatives took over, convincing victims to invest larger sums of money, often through fake platforms that looked legitimate.
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