30 results
- 14 Aug 2022
CyberSafe Foundation's NoGoFallMaga Community Releases Investment Scam Handbook
NoGoFallMaga (NGFM), a campaign instituted by the CyberSafe Foundation has released its first Investment Scam handbook through its Community platform. Released on August 12 to align with this year’s…
- 24 Jan 2018
Union Bank Share Scam: Investments and Securities Tribunal Exonerates Akande, Okoloko
The Investments and Securities Tribunal, sitting in Abuja over the illegal procurement of the Bank’s own shares with its funds has exonerated Onikepo Akande and Onajite Okoloko from the shares scam…
- 28 Sept 2025
SEC Raises Alarm over AI-generated Investment Scams
Securities and Exchange Commission (SEC) has warned Nigerians to beware of a rising wave of artificial intelligence (AI)-driven scams that are targeting unsuspecting investors with promises of…
- 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,…
- 18 Aug 2021
The Hurried Return of Nigeria’s Overnight Millionaires
By Shile Akinjo Daily, more than half of Nigeria’s population, consume information on get-rich-quick packages and incentives in an economy with skyrocketing inflation. From catch phrases such as…
- 1 Feb 2024
7 Scams to Watch Out for in 2024
As technology gets more advanced, fraudsters are also getting better at deceiving and stealing from us. In 2024, scammers have some new tricks up their sleeve, such as deepfake impersonation. That is…
- 4 Nov 2025
ZachXBT, Crypto Investigator Lists Nigeria, Others as Worst Jurisdictions for Scam Victims
ZachXBT, scam survivor turned Blockchain investigator, has named Nigeria, India, Canada, UK and Russia, as the hardest places to help crypto scam victims. ZachXBT cited stagnant legal systems and…
- 22 Jun 2025
Crypto Scam Unmasked: U.S. Recovers Record $225m in Global Fraud Bust
The U.S. government has recovered $225 million in what is now the largest seizure of funds linked to a cryptocurrency investment scam. In a statement released Wednesday, June 18, the U.S. Attorney’s…
- 19 Jul 2026
NDIC Urges Youths to Shun Ponzi Schemes, Embrace Savings
Nigeria Deposit Insurance Corporation (NDIC) has urged youths to shun investment scams and embrace the habit of saving. NDIC said that for a nation to be prosperous, its citizens must learn to build…
- 19 Feb 2026
INTERPOL Arrests 651, Recovers $4.3m from Cybercrime in Nigeria, Others
African law enforcement agencies arrested 651 suspects and recovered over $4.3 million in a joint operation targeting investment fraud, mobile money scams, and fake loan applications. As INTERPOL…
- 3 Dec 2025
NDIC @ Kano Trade Fair, Warns Nigerians against Ponzi Schemes
Nigeria Deposit Insurance Corporation (NDIC) has cautioned Nigerians to be wary of Ponzi schemes and fraudulent investment platforms, warning that such scams continue to endanger the hard-earned…
- 12 Mar 2026
Ghana Nabs 93 Nigerians in Cybercrime Crackdown
Ghanaian authorities have arrested 93 Nigerian nationals over alleged involvement in internet fraud and immigration violations, as the West African nation intensifies its crackdown on cross-border…
- 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…
- News20 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…
- 7 Jul 2026
NRC, Ponzi Scheme Collapses Resulting Loss of Billions of Naira
National Reading Culture (NRC), an online investment platform targeting Nigerians has collapsed, resulting in the loss of billions of Naira for investors. The website unexpectedly shut down, blocking…
- 25 Mar 2025
Nigeria Tops as INTERPOL Arrested Over 300 Cybercriminals Across Africa
Kaspersky has recently contributed its threat intelligence data to an INTERPOL-led law enforcement action that aimed to disrupt cross-border criminal networks across the African region that cause…
- 26 Jan 2020
SEC to Descend on Illegal Fund Managers
Mary Uduk, acting director-general, Securities and Exchange Commission (SEC) has restated the determination of SEC to go after illegal fund managers and ensure they are made to face the full wrath of…
- 23 Apr 2025
Nigerians Lose N4.8 Trillion to Scams Since 2016
Nigerians have lost N4.8 trillion ($2.99 billion) to various scams since 2016, according to findings by Paul Alaje, a prominent Nigerian economist and chief economist at SPM Professionals. This is…
- 15 Nov 2024
SEC Seeks N20m Fine, 10-Year Jail Term for Ponzi Scheme Operators
Securities and Exchange Commission (SEC) has proposed a bill it said will ensure that illegal fund managers are not allowed to fleece unsuspecting Nigerians of their hard-earned funds. The bill…
- 7 Jul 2025
Secret Service Seizes $400M in Crypto, Cold Wallet among World’s Largest
US Secret Service has quietly seized nearly $400 million in digital assets over the past decade, amassing one of the world’s largest crypto cold wallets, Bloomberg reported at the weekend, citing…
- 14 Apr 2026
Kaspersky Reports Online Scam Exposure Remains Widespread Despite High Levels of Self-assurance
A recent Kaspersky survey highlights a considerable gap between consumers’ confidence in identifying online scams and their actual exposure to cyber threats. According to the findings, more than…
- 30 Jan 2026
EFCC Seeks Suspension, Prosecution of Banks for Aiding N162Bn Crypto Scams
Economic and Financial Crimes Commission (EFCC) has called for the suspension and prosecution of deposit banks, Fintechs and microfinance banks aiding and abetting fraudsters in defrauding Nigerians…
- 17 Mar 2017
NaijaSecCon'17 To Showcase Latest Cyber Attack, Defense Mechanisms
Following the growing cyber security challenges in West Africa, Nigeria Security Conference 2017 (NaijaSecCon'17) is being convened to educate the participants on the techniques deployed by hackers.…
- 14 Mar 2017
Cybercrimes on the Increase in West Africa - Report
Trend Micro Incorporated, a global leader in cyber security solutions, in collaboration with INTERPOL, on Monday released research on cybercriminal activity in West Africa, “Cybercrime in West…
- 31 Oct 2025
SEC Says Nigerians Have Lost N316Bn to Ponzi Schemes
Securities and Exchange Commission (SEC), has revealed that Nigerians have collectively lost about N316 billion to Ponzi schemes and illegal fund managers over the years. The commission warned that…
- 11 Jun 2026
Kaspersky Warns of “Grey” Scam Websites Exploiting User Trust
Recent research by Kaspersky has shown that the so-called “grey” websites repeatedly target all world regions, and this may be driving both financial loss and large-scale data harvesting. Grey…
- 24 Mar 2025
Authorities Seize 1842 Devices in African-Wide Cybercrime Crackdown
Authorities in seven African countries have arrested 306 suspects and seized 1842 devices in a sweeping international operation targeting cyber-enabled fraud and scams. Dubbed Operation Red Card, the…
- 3 May 2026
Access Bank Warns Nigerians against Fake WhatsApp Investment Groups using Aig-Imoukhuede’s Identity
Access Bank has said that scammers are impersonating, Aigboje Aig-Imoukhuede, former group chairman, with fraudulent WhatsApp investment groups and warned Nigerians to avoid and report groups. The…
- 26 Apr 2021
Beware of Schemes that Promises Quick Gains- EFCC
Economic and Financial Crimes Commission (EFCC), on Monday warned Nigerians to be wary of fraudulent schemes that promises quick returns and gains. The commission said it is alarmed at the rate…