The Economic and Financial Crimes Commission (EFCC) has issued a public alert over a fresh wave of fraudulent schemes targeting unsuspecting Nigerians, particularly through fake promotional offers purportedly from foreign airlines.
In a statement made available on Friday by the Commission’s Head of Media and Publicity, Dele Oyewale, the EFCC described the scam as a dangerous blend of digital manipulation and social engineering, using enticing offers to steal personal and financial information.
According to Oyewale, “The scheme involves the use of malware to gain unauthorized access to the account information of unsuspecting victims. Teasers like ‘Promo’, ‘Investment Windows’ and other baits are usually employed to make their victims volunteer their account information through which fraudsters execute transactions on their behalf by sending their funds to accounts mainly in Fintech Institutions.”
The Commission further explained that through these tactics, scammers gain remote access to victims’ accounts and use the stolen data to move funds into crypto wallets, effectively laundering the proceeds.
Citing a recent example, Oyewale said victims were duped through a supposed airline promo offering 50% discount on flight tickets. The unsuspecting victims were asked to pay a token of N500 into the airline’s account—a payment disguised as a charity donation.
“The N500 payment which is now dressed as charity payment is the leeway through which the fraudsters gain access to their victim’s personal information,” Oyewale said.
Victims were also tricked into downloading the airline’s mobile app, through which malware was introduced. Once access was gained, funds were silently moved from the victims’ bank accounts into accounts operated by microfinance banks.
The EFCC also highlighted a disturbing trend where thousands of young Nigerians have become complicit in the fraud, acting as intermediaries.
Oyewale said, “This fraud scheme is largely driven by an army of young Nigerians offering a paltry payment of between N1500 and N2000 to their victims to make them surrender a copy of their personal information details to them and sell the same information to some Fintech Institutions for about N5000.
“These individuals, who call themselves “Account Suppliers” or members of the “KYC Group”, reportedly scour communities for vulnerable individuals willing to trade their National Identity Number (NIN) slips, Bank Verification Numbers (BVN), passport photos, and other sensitive documents for a fee.
“Information available to the Commission revealed that the actors are up to 12,000 all over the country seeking account donors that will surrender their NIN registration slip, BVN, passport photograph and other means of identification for a little fee,” Oyewale said.
The information harvested is then used to open accounts with various Fintech companies to facilitate investment scams and other forms of financial crime.
But the EFCC stated that it has already made some arrests in connection with the scam, saying that efforts are ongoing to recover funds stolen from victims and dismantle the network of so-called Account Suppliers.
Members of the public have been strongly advised to remain vigilant and to never share personal or financial details in exchange for money or “promo” benefits.
Oyewale then warned the general public, saying that, “On no account should any Nigerian agree to be an Account Donor for any purpose as this is a threat to national security.
The Commission reaffirmed its commitment to protecting Nigeria’s financial ecosystem, adding that it will continue to pursue those behind such fraudulent activities to safeguard the interests of all Nigerians.
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