... Says Crypto Scam Syndicate Recruited 792 Suspects
... Converted Billions to Cryptocurrency
The Economic and Financial Crimes Commission (EFCC) on January 14, 2026, presented its seventh witness in the trial of Friday Audu, alleged ringleader of a 792-member cryptocurrency investment and romance scam syndicate, before Justice Rahman Oshodi in Ikeja.
An EFCC operative, Rasheedah Chindaya, testified that Audu allegedly controlled Genting International Ltd and other linked companies used to perpetrate the fraud. She told the court that Genting’s bank accounts, allegedly linked to Audu’s BVN, handled transactions running into billions of naira, with funds converted into cryptocurrency through Bureau De Change operators.
Chindaya said Audu was the sole signatory to the accounts and personally benefited from the proceeds. She also detailed how Nigerians and foreigners were recruited and trained to scam victims online.
The court adjourned the trial to February 24 and 26, 2026.
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