30 results
- 10 Jul 2025
Financial Fraud in Nigeria Surges by 45 Percent, 70 Percent of Losses Linked to Digital Platforms – CBN
Central Bank of Nigeria (CBN) has raised the alarm over a significant rise in financial fraud cases in the country, revealing that fraud surged by 45% within one year, with 70 Percent of the…
- 26 Aug 2021
U.S Trains 50 Nigerian Investigators to Combat Cryptocurrency Fraud
The U.S. authorities have trained over 50 Nigerian investigators and prosecutors to tackle cryptocurrency-enabled organised crimes. The training, which was held virtually, focused on enhancing the…
- 22 Oct 2024
Nigerians Fingered in New Cybercrime Exploiting U.S. Financial Systems
Cryptocurrency fraud in Nigeria is exclusively committed by young men, with 100% of convicted fraudsters being male and nearly two-thirds under the age of 30, according to a new study from the…
- 16 Dec 2024
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,…
- 21 Jun 2024
EFCC, Flutterwave to Establish Cybercrime Centre for Security of Transactions
Economic and Financial Crimes Commission (EFCC) and Flutterwave, unicorn payments technology company have signed a Memorandum of Understanding (MoU), to establish and a state-of-the-art Cybercrime…
- 7 Sept 2025
EFCC Admits Weak Regulation Opens Crypto Investors to Fraud
Economic and Financial Crimes Commission (EFCC) of Nigeria has warned about the risks of opening crypto investors to fraudulent elements. Ola Olukoyede, Speaking on behalf of the organization, Ola…
- 11 Nov 2024
Senate to Increase EFCC Budget to Fuel Anti-Corruption Drive
The Senate Committee on Anti-Corruption and Financial Crimes has expressed its commitment to increasing the budget allocation for the Economic and Financial Crimes Commission (EFCC) to support its…
- 26 May 2025
EFCC Recovers Funds, Arrests Suspects in N1.3 Trillion CBEX Crypto Fraud
Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission has revealed that the agency has recovered some money from the digital investment platform Crypto Bridge Exchange trading…
- 9 Dec 2025
Financial Sector Faced AI, Blockchain and Organised Crime Threats in 2025 - Report
The 2025 Kaspersky Security Bulletin provides a review of the major cybersecurity trends of the year and offers a look towards the future of cybersecurity, including within the financial sector.…
- 28 Apr 2025
Wanted CBEX Promoter Surrenders to EFCC Amid $1 Billion Fraud Probe
One of the suspected promoters of the cryptocurrency trading platform, Crypto Bridge Exchange, Adefowora Abiodun, who was recently declared wanted by the Economic and Financial Crimes Commission,…
- 11 Jul 2025
EFCC Says Corrupt Politicians are Using Crypto Wallets to Launder Money
Ola Olukoyede, chairman, Economic and Financial Crimes Commission (EFCC), has raised the alarm that some corrupt Nigerian politicians are now hiding their illicit wealth in cryptocurrencies to evade…
- 10 Jun 2026
Senate Moves to Regulate Crypto Sector, Seeks Investor Protection
Senate has passed the Virtual Asset Service Providers Regulation Bill, 2026 for its second reading, marking a major legislative step toward establishing a comprehensive legal framework for the…
- 13 May 2025
EFCC Tells Nigerians to Shun Ponzi Schemes Like CBEX, Others
Economic and Financial Crimes Commission (EFCC) has charged Nigerians to shun Ponzi schemes as many of such schemes have destroyed lives, eroded trust and undermined national development. Aisha…
- 13 Aug 2025
SEC Partners Chainalysis to Tackle Rising Crypto Scams
A surge in cryptocurrency fraud has prompted the Securities and Exchange Commission (SEC) to strengthen its monitoring measures. The regulator has partnered with blockchain analytics firm Chainalysis…
- 24 Apr 2025
EFCC Secures Arrest Warrant for Six CBEX Promoters
A federal high court in Abuja has granted permission to the Economic and Financial Crimes Commission (EFCC) to arrest and detain six Crypto Bridge Exchange (CBEX) promoters over allegations of…
- News21 Aug 2026
How AI, Poor Governance Aid Transnational Scams —UNODC
Nigeria has emerged as one of the new destinations for transnational cybercrime syndicates relocating from Southeast Asia following intensified crackdowns by regional governments, a new report published by the United Nations Office on Drugs and Crime (UNODC), has revealed.
- 9 Jul 2026
INTERPOL-Led Global Fraud Crackdown Nets 5,811 Suspects, Intercepts $293m
A global anti-fraud operation coordinated by the International Criminal Police Organization (INTERPOL) has resulted in the arrest of 5,811 suspects and the interception of illicit assets worth 293…
- 22 Oct 2025
Interpol, Afripol Smash $260m Terror Financing Network in Nigeria, Others
Interpol and Afripol have uncovered a vast web of terrorist financing across Africa, leading to 83 arrests in six countries and the seizure of $260 million in cash and cryptocurrency linked to…
- 10 Jul 2025
SEC DG Decries Digital Assets Fraud as Inimical to Market Integrity
Emomotimi Agama, Director General, Securities and Exchange Commission (SEC) has expressed concern over the growing threat of digital assets fraud, warning that it poses a significant challenge to…
- 27 Nov 2017
FG Lists Dangers of Digital Currencies as Bitcoin Hits $8,000
Nigerian Deposit Insurance Corporation (NDIC), the country’s financial sector insurance regulator, has again warned Nigerians against the risk of trading with digital currencies not issued by the…
- 6 Aug 2026
Fleeing Southeast Asia Scam Syndicates Find New Homes in Nigeria, Kenya- Report
Southeast Asia cybercrime networks are expanding operations into Africa as crackdowns intensify in the subregion, according to a recent report from the United Nations Office on Drugs and Crime…
- 12 Feb 2023
Sophos Investigates Two Active Cyberfraud Operations Cashing in on Crypto-Romance Cons
Sophos, a global leader in innovating and delivering cybersecurity as a service, on Monday released details of two expansive, still operational, pig butchering or sha zhu pan rings (elaborate and…
- 30 Jun 2024
Nigeria's Cryptocurrency Market Worth over $400m - SEC
Emomotimi Agama, director-general of the Security and Exchange Commission (SEC), has said that Nigeria’s cryptocurrency market is estimated to be worth over $400 million, with a significant portion…
- 14 Aug 2026
World Cup, AFCON, Blord saga top Nigeria’s Google searches in 2026
The 2026 FIFA World Cup, Africa Cup of Nations (AFCON), Iran-Israel conflict, and the controversy involving social media activist VeryDarkMan and businessman Blord dominated Google searches by…
- 2 Dec 2025
Get-Rich-Quick Schemes Risky, SEC Advises Nigerians
Securities and Exchange Commission (SEC) has reaffirmed its commitment to intensify inter-agency collaboration in identifying and prosecuting promoters of Ponzi schemes, in line with the provisions…
- 17 Dec 2024
ESET Warns of Rising Online Scam Threat Amid EFCC's Major Fraud Bust
ESET, a global leader in digital security, has provided insights on the rising threat of online scams. In a significant operation earlier in the week, Nigeria's anti-graft agency, the Economic and…
- 14 Oct 2025
Reps Panel Says N1Bn Capital Base for Crypto Service Operators Excessive
House of Representatives Ad-hoc Committee on the Economic, Regulatory, and Security Implications of Cryptocurrency Adoption and Point-of-Sale (POS) Operations has described the N500 million to N1…
- 28 Aug 2026
Nigeria Police Uncovers 12.5m Victims Email Logs across 50 Countries
Nigeria Police Force National Cybercrime Centre (NPF-NCCC) said more than 12.5 million victims’ email logs had been recovered, with victims identified across more than 50 countries.
- 16 Feb 2020
Experts Suggest Ways to Address Shortage of Skill-set in Cybersecurity
Worried by several reports revealing shortage of skillset in cyber security in Nigeria and other African countries, experts have adduced ways out of the challenge. In a recent report published by…
- 18 Dec 2025
Nigeria Police Arrest Okitipi, Nigerian Allegedly Linked to Microsoft 365 Hack
Okitipi Samuel, a Nigerian man, has been taken into custody by the Nigeria Police Force for his alleged role in a global cyberattack on Microsoft 365 users. Benjamin Hundeyin, Force public relations…