The Economic and Financial Crimes Commission (EFCC) has issued a public alert, warning Nigerians of a growing fraudulent scheme involving fake promotional offers by foreign airlines. According to the Commission, this latest scam is part of a sophisticated operation designed to defraud unsuspecting members of the public and compromise their personal and financial information.
In a statement released by the EFCC, the fraudsters lure victims with enticing offers such as 50% ticket discounts, “investment windows,” and other too-good-to-be-true promotions. Victims are often asked to pay a token amount — typically N500 — allegedly for charity purposes, which gives scammers a gateway to access sensitive information.
The EFCC disclosed that in one case, victims were prompted to download a fake mobile application of a leading foreign airline to qualify for a promotional offer. Once the app is downloaded, malware embedded within it extracts the victims’ personal data. The fraudsters then move funds from the victims’ bank accounts to accounts opened with Microfinance and Fintech institutions, where the money is further laundered via cryptocurrency transactions.
The Commission further revealed that the scam is being perpetrated by a network of young Nigerians known as “Account Suppliers” or members of the “KYC Group.” These individuals reportedly offer small payments ranging from N1,500 to N2,000 in exchange for copies of Nigerians’ personal identification information, including NIN slips, BVNs, passport photographs, and other sensitive documents. The information is then sold to Fintech firms for as much as N5,000 and used to open accounts for fraudulent activities.
According to the EFCC, an estimated 12,000 individuals across the country are involved in sourcing personal information from willing “account donors.” The Commission warns that participation in such schemes poses serious risks to national security and could lead to legal consequences for the parties involved.
So far, arrests have been made and efforts to recover funds lost to the fraudulent promo schemes and account trading networks are ongoing. The EFCC advises the public to remain vigilant and avoid falling victim to suspicious promotional offers or sharing personal data for financial gain.
“The EFCC remains committed to protecting Nigeria’s financial system and urges all Nigerians to report any suspicious activities,” the statement concluded.
