EFCC Warns Nigerians of New Fraud Scheme Involving Fake Promos, Identity Theft
By: Erewunmi Peace
The Economic and Financial Crimes Commission (EFCC) has raised alarm over a rising wave of cyber fraud involving fake promotional campaigns, investment offers, and compromised fintech accounts. The commission warns that thousands of Nigerians — especially youths — are unknowingly becoming both victims and accomplices in these schemes.
How the Scam Works
According to EFCC investigations:
Fraudsters advertise fake airline ticket promos, crypto investment offers, or online giveaways.
Victims are asked to pay a small token (e.g. ₦500) to access the offer.
They are then instructed to download a malicious mobile app or submit personal details, such as:
NIN slip
Bank Verification Number (BVN)
Passport photograph
These details are used to open fintech accounts, which are then used to launder stolen money and cryptocurrency.
The Rise of “Account Suppliers”
The EFCC revealed that over 12,000 young Nigerians are participating in illegal “KYC supply rings.” These individuals are paid ₦1,500–₦2,000 in exchange for their personal identity documents, unaware that:
Their information will be used for fraud,
They may be held accountable under Nigerian cybercrime laws.
“Some think it’s just selling their data for quick cash, but they’re actually aiding fraud and money laundering,” said EFCC Spokesperson Dele Oyewale.
EFCC’s Warning to the Public
The commission urges Nigerians to:
Avoid offers that sound too good to be true.
Never submit personal data (NIN, BVN, passport photo) for unverified online deals.
Report any suspicious schemes to the EFCC or nearest police station.
Summary Table
Issue Details
Scam Type Fake promo/investment offers via apps
Payment Bait ₦500 “promo access” or “charity donation”
Risk to Victims Identity theft, loss of funds, legal consequences
Role of Youth Selling identity data as “KYC” for fraud rings
EFCC Action Ongoing arrests, monitoring, public alerts issued
If you receive a suspicious promo offer or are asked to provide personal identity documents, STOP and VERIFY. This trend is not only dangerous — it’s also illegal.
