The Nigeria Police Force National Cybercrimes Centre (NPF-NCCC) has arrested seven suspects in connection with alleged money laundering, business email compromise, sextortion, blackmail, romance scams and other cyber-related offences.
Akaninyene Ezima, Assistant Inspector-General of Police (AIG) overseeing the centre, disclosed the arrests on Wednesday during a press conference in Abuja.
Ezima said one of the suspects was arrested after the German Federal Police, known as the Bundeskriminalamt (BKA), requested the preservation of data linked to an IP address allegedly used in a sophisticated business email compromise scheme.
He said the investigation, code-named “Operation Broken Mask”, was carried out in collaboration with the BKA and the Royal Canadian Mounted Police (RCMP) under the Budapest Convention 24/7 Network.
According to him, the suspect was arrested on July 20 at his residence in Megamound Estate, Lekki, Lagos, after investigations allegedly connected him to the operation.
Forensic analysis of devices recovered from the suspect’s residence reportedly uncovered more than 12.5 million email logs belonging to victims across over 50 countries.
The police also discovered that the suspect’s Bank Verification Number (BVN) was connected to accounts held with six financial institutions and fintech platforms. A Mercedes-Benz AMG GLC 43 allegedly acquired with proceeds from the crime was also recovered.
Ezima said the suspect allegedly used phishing kits sourced through Telegram to compromise Microsoft 365 credentials belonging to employees of targeted companies.
He added that the suspect allegedly made more than N100 million from the scheme.
“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,” he said.
Technology company owner arrested
The AIG also announced the arrest of a technology company owner over alleged international cyber-enabled investment fraud and money laundering.
He said the arrest followed a petition submitted by Ugwu Francisca & Co. on behalf of Elizabeth and Prince Iruaregbon.
According to Ezima, the petition alleged that the complainants lost N56.3 million after being persuaded to invest in a WhatsApp-based stock trading platform that promised substantial returns.
Investigators allegedly traced the funds to accounts operated by entities connected to the suspected syndicate.
Ezima said the suspect’s technology company was allegedly used to convert proceeds from the fraud.
An examination of the company’s account with Save Heaven Microfinance Bank reportedly revealed terminal cash-out inflows and outflows totalling N3.2 billion between October 30, 2025, and May 31, 2026.
The police chief further disclosed that investigators traced about N3.6 billion in suspected proceeds of crime that had allegedly been converted into Tether (USDT) stablecoins through Bybit peer-to-peer transactions.
He said the suspect was arrested on August 13 in Agiliti, Lagos, and allegedly admitted owning Kestart Technology and engaging in peer-to-peer cryptocurrency trading on Bybit.
Two arrested over identity theft in Anambra
Ezima also disclosed that two suspects were arrested in Anambra State over alleged conspiracy, identity theft, impersonation and computer-related fraud.
He said the investigation began after Faruk Yabo, permanent secretary at the Federal Ministry of Solid Minerals Development, reported that someone was allegedly impersonating him on WhatsApp and Facebook.
The suspects were arrested on August 4 following technical intelligence and other investigative activities, according to the AIG.
Police reportedly recovered 24 registered and 33 unregistered MTN SIM cards, 26 registered and 18 unregistered Airtel SIM cards, alongside an MTN toolkit.
Ezima said one of the suspects admitted buying and selling registered and unregistered SIM cards, as well as creating a social media account using the identity of a UK citizen. The account was allegedly used to defraud individuals in India.