By Agboola Aluko | GLiDE NEWS, Benin City
O peratives of the Economic and Financial Crimes Commission (EFCC) have apprehended a suspected cybercriminal, Olawole Sunday, in connection with a fraudulent scheme involving the purchase and use of bank account details for illicit financial activities.
According to a statement released on Monday by EFCC’s Head of Media and Publicity, Dele Oyewale, Sunday’s operation centered on recruiting young individuals to open bank accounts, which he then used to defraud unsuspecting victims under various pretences, including forex trading scams.
“Sunday paid his recruits between N25,000 and N50,000 for each account and collected all associated details, including ATM cards,” the statement read.
The scheme came to light after a petitioner reported a N2 million fraud. The sum had allegedly been siphoned through an account belonging to one Uyi Eghosa. Investigators arrested Eghosa, who denied knowledge of the scam but admitted to handing over his account details and ATM card to Sunday in exchange for N25,000.
“Eghosa claimed he was unaware his account had been used to defraud members of the public,” Oyewale explained.
Further investigation by the EFCC’s Benin Zonal Directorate led to the arrest of Olawole Sunday, who confessed to the crime during interrogation. The agency confirmed that Sunday would face charges in court once investigations are completed.
A Growing Trend of Digital Exploitation
The case highlights a growing trend among internet fraud syndicates in Nigeria—buying or leasing legitimate bank accounts from unsuspecting or complicit individuals to mask the source of stolen funds.
Financial experts warn that individuals who sell or hand over their account details, knowingly or unknowingly, may be held liable in fraud investigations. The EFCC has consistently urged the public to avoid giving third parties access to their banking information.
The arrest is part of the commission’s broader crackdown on cybercrime and financial fraud across the country. Recent data from anti-corruption agencies indicate that digital scams remain one of the leading forms of economic crime in Nigeria, often targeting both local and international victims.
EFCC’s Warning to the Public
Oyewale reiterated that the EFCC remains committed to dismantling criminal networks exploiting the banking system and manipulating digital finance platforms.
“Ignorance is not an excuse. People must understand the consequences of giving out their account details for quick cash,” he warned.
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