News
EFCC Arrests 193 Foreigners, 599 Others over Alleged Crypto, Romance Fraud
Economic and Financial Crimes Commission (EFCC) has said that it has arrested 792 suspects in one operation over alleged a cryptocurrency investment fraud and romance scam.
Wilson Uwujaren, director, Public Affairs, EFCC, who briefed journalists at the commission’s office in Lagos ton Monday said, the foreigners arrested included 48 Chinese, 40 Filipinos, two Kharzartans, one Pakistani, and one Indonesian.
He said the suspects were arrested on December 10, 2024 at their seven-storey building hideout at 7, Oyin Jolayemi Street, Victoria Island, Lagos.
Uwujaren said, “The breakthrough followed actionable intelligence and months of surveillance and monitoring the activities of the syndicate. Among the foreigners arrested are 148 Chinese, 40 Filipinos, two Kharzartans, one Pakistani, one Indonesian”
“Investigation established that the foreign nationals use the facility at 7, Oyin Jolayemi Street, which could be mistaken for a corporate headquarters of a financial establishment to train their Nigerian accomplices on how to initiate romance and investment scams and also use the identities of Nigerians to perpetrate their criminal activities.”
“All the floors are equipped with high-end desktop computers. On the 5th floor alone, investigators recovered 500 SIM cards of local telcos that were bought for criminal purposes”.
“Their Nigerian accomplices were recruited by the foreign kingpins to prospect for victims online through phishing, targeting mostly Americans, Canadians, Mexicans, and several others from European countries”.
“They usually arm them with desktop computers and mobile devices and create fake profiles for them”.
“The Nigerian accomplices are equally provided with logs that allow them access to foreign communication lines and victims, which they chat with on WhatsApp, Instagram and Telegram”.
“They are also assigned WhatsApp accounts linked to foreign telephone numbers, especially from Germany and Italy”.
“Their jobs are to engage victims in romantic conversations and phantom business and investment discussions to trick them to shop on the purported online investment shopping platform called www.yooto.com. For those who show interest, activation fees for an account on the platform starts from $35USD”
“Investigation revealed that the criterion for recruiting these young Nigerians is proficiency in the use of computers, especially typing skill. Those who passed the test are given desktop computers and mobile devices and then taken through a two-week induction on how to personate foreign females in romance scam chats and convince victims to invest in their employers’ Cryptocurrency investment scam”.
“Once the Nigerians are able to win the confidence of would-be victims, the foreigners would take over the actual task of defrauding the victims and proceed to block their Nigerian accomplices from the network. This would then leave them in the dark about the transaction”.
“Surprisingly, the Nigerians do not know the owners of the ‘company’ they work for, as they neither get letters of appointments nor receive payment from a corporate account. Investigation revealed that they are paid either in cash or through an individual’s account”
“Further investigation is ongoing to establish the extent of the scam and the accomplices, including the likelihood of any collaboration with organized international fraud cells”
“The Commission is working closely with its foreign partners in this regard. Items recovered from the suspects include desktop computers, mobile phones, laptop computers, and cars”
“The suspects have made statements, while their systems have also been screened. They are currently being held with a valid remand warrant and will be arraigned in court in the coming days”
“What is, however, clear from this arrest is that the notion that Nigerians are behind the tonnes of frauds emanating from our country is not correct. Foreigners are taking advantage of our nation’s unfortunate reputation as a haven of frauds to establish a foothold here to disguise their atrocious criminal enterprises”.
“But, as this operation has shown, there will be no hiding places for criminals in Nigeria”.
News
RCCG Turns Former Barclays Banks’s Branch Building into Church
A former Barclays branch building in Middleton is set to be transformed into a church, two years after the bank shut its doors.
The Redeemed Christian Church of God (RCCG)has received council approval to establish their newest place of worship at the site, adding to the growing number of the faith’s churches in the Greater Manchester area
Despite receiving 51 letters of objection from locals concerned about potential traffic impact and overdevelopment, Rochdale Council’s highways officers are confident there would be no increase in traffic as a result of the development.
Planning officers also noted that the application is only for a change of use, meaning the building’s appearance would remain the same.
No major internal or external changes are planned.
As the building would effectively look the same and the application was for a change of use, this work would not be deemed ‘inappropriate’ or ‘overdevelopment’.
The Redeemed Christian Church of God, a form of Christianity founded in Nigeria in 1952, has a presence in 197 countries and territories worldwide, with millions of members in Nigeria alone.
News
Shell Approves FID On $5Bn Bonga North Deepwater Project
Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Shell plc, has officially announced a Final Investment Decision (FID) on the Bonga North deepwater project, marking a significant milestone in Nigeria’s energy sector.
The $5 billion Bonga North project, located offshore in Oil Mining Lease (OML) 118, is set to sustain and enhance production at the Shell-operated Bonga Floating Production Storage and Offloading (FPSO) facility, where Shell holds a 55% operational interest.
In a statement released on Monday, Shell confirmed that the project has an estimated recoverable resource of more than 300 million barrels of oil equivalent (boe) and is projected to achieve a peak production of 110,000 barrels of oil per day..
“This is another significant investment, which will help us to maintain stable liquids production from our advantaged Upstream portfolio,” said Zoë Yujnovich, Shell’s Integrated Gas and Upstream Director.
The Bonga North project encompasses the drilling, completion, and commissioning of 16 wells—8 production wells and 8 water injection wells.
It also involves modifications to the existing Bonga Main FPSO and the installation of advanced subsea infrastructure, which will be tied back to the FPSO.
Bonga North represents a key component of Shell’s strategy to bolster its Integrated Gas and Upstream business, which continues to drive cash generation well into the next decade
This project follows a wave of international investment in Nigeria’s deepwater oil industry, underscoring the country’s significance in the global energy landscape.
Shell’s decision reaffirms its long-term commitment to maintaining its leadership in energy production while contributing to Nigeria’s economic growth.
The FID announcement aligns with Nigeria’s ongoing efforts to attract foreign direct investment in its oil and gas sector, fueled by strategic reforms and an improved regulatory environment under the current administration.
News
FEC Approves 161.3m Euros for Phase 1 Siemens Power Project
Federal Executive Council (FEC), meeting presided over by President Bola Tinubu on Monday approved the sum of 161,328,228 euros for the execution of contracts in the first batch of the Phase 1 of the Siemens Power projects across the country.
Tinubu after extensive deliberations at the FEC also approved N1.7 billion for the acquisition of an office complex for the National Electricity Liability Management Company (NEMCO), in Abuja.
Briefing newsmen after the meeting, Adebayo Adelabu, minister for Power, said: “At the Federal Executive Council meeting held this afternoon, there were basically two approvals for the Federal Ministry of Power, as I presented. The first was actually an approval for the award of contract for engineering, procurement, construction and financing for the implementation of the 331 32 KV And 132 33 KV substations upgrade under the Phase One of the Presidential Initiative, popularly known as the Siemens project, consequent upon completion of the pilot phase of this project.
“The Federal Executive Council at today’s meeting considered it necessary for us to move forward as promised by the President of the Federal Republic of Nigeria at a meeting he held with the President of the Republic of Germany last week.
“The cost of this first batch of the phase one of the Siemens project was 161,328,228 euros. And the Phase One of this Siemens projects, as it relates to the transmission, upgrade and expansion, actually includes 14 brownfield substations that need upgrade and revamping, and 21 greenfield substations, which are new substations to be built across the country to improve the transmission segment.
“The first batch of this Phase One of the projects include: Onitsha 331 3233 KV substation, under the Enugu Electricity Distribution Company; Offa 132 33 KV substation under the Ibadan Electric Distribution Company, there is the new Abeokuta 331 3233 KV substation. We have Ayede 331 3233 KV substation. And lastly, Sokoto 132 33 KV substations.”
Adelabu also explained that the five sub-stations are to be worked upon and under the first batch of this Phase One of the Siemens project.
According to him: “We expect that this will further improve and stabilise the transmission segment of the power sector value chain in no distant future on completion.
“Another approval that was given at the FEC this afternoon actually relates to the award of contract for the acquisition of an office complex for the Nigeria Electricity Liability Management Company, which you all know as a NEMCO, and the office complex approved for outright purchase is at Plot No. 2148, Cadastral Zone, Wuse 1 District, Abuja, for NEMCO, and the cost of this acquisition is 1.7 billion naira inclusive of 7.5% VAT.
“We all know that NEMCO is the product of the Electricity Power Sector Reform Act of 2005 with a very specialised role to play in ensuring the success of the electricity sector reform. And the company currently resides in this particular facility, but it is expedient that the property be acquired to avoid the escalating rent which is being increased regularly due to inflation.
“So this offer of outright purchase was opted for, and this will also enable the company to meet up with its expanded mandate and increase in staff strength.”
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