EFCC Arrests Suspected Fraudster Involved in Buying Bank Accounts for Online Scams

The Economic and Financial Crimes Commission (EFCC) has arrested a suspected internet fraudster, Olawole Sunday, for allegedly operating a scheme that involved purchasing bank accounts from young Nigerians to carry out fraudulent transactions. Operatives of the Commission’s Benin Zonal Directorate apprehended Sunday after uncovering his involvement in convincing youths to open multiple bank accounts, which he bought for amounts ranging from N25,000 to N50,000.

According to the EFCC, Sunday acquired full access to the accounts, including ATM cards and sensitive banking information. The investigation revealed that he used one of the accounts, belonging to a man identified as Uyi Godstime Eghosa, to defraud a petitioner of N2 million under the guise of a forex trading opportunity.

Eghosa was initially arrested and claimed he was unaware of the fraudulent transaction, explaining that he had sold the account to Sunday for N25,000. This led EFCC operatives to trace and arrest Sunday, who reportedly confessed to using the acquired bank accounts to scam unsuspecting victims.

The Commission stated that Sunday will be charged to court once investigations are concluded. It also issued a renewed warning to the public, particularly young people, against selling or sharing their bank account details, as doing so could expose them to criminal liability.