Five young men have been nabbed by the operatives of the Economic and Financial Crimes Commission in the Amuwo-Odofin axis of Lagos state , Nigeria for fraudulent crime worth a huge sum of ₦98,268,855.
The EFCC have smashed a syndicate of alleged fraudsters who specialise in Credit Card fraud.
According to the spokesman of the anti-graft agency, Wilson Uwujaren, revealed this in a statement.
The suspects arrested Daniel C. Stephen, Nestor Ezeani, Sonny Okwaraji, Sylvester E Otuwa and Jeff Ogbonaya, allegedly masterminded the theft of ₦98,268,855 which is $257,822.16 from a new generation bank.
The alleged fraudulent transaction was reported by the Bank through a petition, alleging that the bank received a mail from VISA International on suspected 60 Credit Card transactions.
The EFCC in a swift action moved and arrested the five suspects at 7th Avenue, FESTAC Town area of Amuwo-Odofin LGA in Lagos.
They were arrested with several credit cards in their possession, which they use in loading money before transferring them to other banks.
Uwujaren said that some of the suspects have made useful statements while investigations are ongoing and that they will be charged to court as soon as investigations are concluded.