The Economic and Financial Crimes Commission (EFCC) has issued a formal warning about a rising wave of cyber-enabled financial fraud involving fake airline ticket promotions and deceptive investment schemes targeting unsuspecting Nigerians.
In a statement released on its official X (formerly Twitter) account on Friday, the anti-corruption agency detailed a sophisticated scam where victims are lured by fraudulent foreign airline ticket discounts. As part of the scam, individuals are asked to make small “charity” payments—usually around ₦500—to supposedly access discounted airfare offers.
“A recent example involved a ‘promo’ claiming a 50% discount on tickets from a leading foreign airline. Victims were persuaded to pay a token fee of ₦500 into what they believed was the airline’s account,” the EFCC said.
The Commission explained that this small payment, disguised as a charitable donation, is used to deploy malware that grants scammers unauthorized access to the victim’s device. In many cases, victims are tricked into downloading a counterfeit mobile app purporting to be from the airline, which then steals personal data, including banking information.
Following these data breaches, fraudsters reportedly funnel stolen funds through microfinance bank accounts and then launder the money via cryptocurrency transactions—a tactic used to conceal the financial trail and hinder recovery efforts.
Alongside the ticket scam, the EFCC warned about a related operation involving “Account Suppliers” or “KYC Groups.” These networks reportedly pay individuals between ₦1,500 and ₦2,000 for personal identity documents such as National Identification Numbers (NIN), Bank Verification Numbers (BVN), passport photos, and other credentials.
“Information available to the Commission indicates that there are up to 12,000 actors nationwide seeking account donors,” the EFCC disclosed, adding that the illegally obtained data is resold to fintech platforms for up to ₦5,000 and then used in investment scams and other financial crimes.
The Commission confirmed that arrests have been made in connection with these schemes and that efforts to recover misappropriated funds are ongoing. It stressed the serious national security risks posed by these fraudulent activities and strongly urged the public not to share personal information under any pretext.
“The EFCC remains dedicated to protecting the country’s financial system in the best interests of all Nigerians,” the statement concluded.
