Ibrahim Magu, chairman of the Economic and Financial Crimes Commission (EFCC) has revealed in a press conference in Lagos On Tuesday that the agency has arrested 28 persons and recovered N486 million in connection with the online scam being investigated by the Federal Bureau of Investigation (FBI).
Mr. Magu, who was represented by Mohammed Rabo, zonal head of EFCC in Lagos, said collaboration between the commission and the FBI led to the recovery of the funds, adding that the recovered money was traced to various commercial banks.
He also disclosed that joint operations coordinated by the EFCC had resulted in 28 arrests.
According to him 14 suspects had been charged and convicted.
The EFCC said, “Nine of the suspects are currently undergoing trial, while five are still under investigations.
“Over 80 cases are still under investigation from the EFCC-FBI joint operations. From 2018 to date, the EFCC had launched a sustained operation on perpetrators of various computer-related frauds, which resulted in over 200 arrests, 130 convictions and recovery of a large number of exotic cars and properties suspected to have been acquired through the proceeds of crime.
“We had independently launched intensive investigative actions against the infamous Yahoo Yahoo boys culminating in various strategic raids and onslaught on their hideouts.
“Our efforts in this regard have recorded tremendous successes leading to a number of arrests, prosecutions and convictions.”
“No one has the monopoly of knowledge of how the fight should be fought and won.
“All the critical stakeholders, particularly the media, must continue to collaborate and cooperate with us to make the fight a success,” he said.
“I urge you to continue to help us sensitize, mobilize and educate all the critical stakeholders to continue to support the fight against economic and financial crimes. We must collectively strive to achieve the Nigeria of our dream.”
Recall that the FBI had released a list 0f 77 Nigerians allegedly involved in what it described as one of the largest scams in US history.