posted 7th April 2025
EFCC Arrests Suspected Fraudster in Nigeria for Buying Bank Account Details
Benin City, Nigeria – The Economic and Financial Crimes Commission (EFCC) has apprehended a suspected fraudster, Olawole Sunday, accused of purchasing bank account details from individuals to perpetrate fraud against unsuspecting victims. The arrest was made by operatives of the EFCC’s Benin Zonal Directorate, following an investigation into Sunday’s illicit activities.
According to the EFCC, Sunday’s scheme involved targeting young people, persuading them to open multiple bank accounts in exchange for payments of either N25,000 (£12) or N50,000 (£24) per account. He would then collect their bank details, including Automated Teller Machine (ATM) cards, which he allegedly used to carry out fraudulent transactions.
The breakthrough in the case came after Sunday reportedly used the account details of one Uyi Godstime Eghosa to swindle a petitioner out of N2 million (£950) by posing as a forex trader. Eghosa, the account owner, was initially arrested but claimed he had no knowledge that his account was being used to defraud the public. He told investigators that he had handed over his account details and ATM card to Sunday after receiving a payment of N25,000. This revelation led authorities directly to Sunday.
Upon his arrest, Sunday confessed to the crime, according to the EFCC. The agency stated that he will face court proceedings as soon as their investigation is concluded.
The EFCC’s Benin Zonal Directorate continues its efforts to clamp down on financial crimes across Nigeria, with this arrest serving as a stark warning to those involved in similar schemes. The commission has not yet released further details about the scope of Sunday’s operations or the number of victims affected.
This case highlights the growing concern over the exploitation of personal banking information in Nigeria, where economic pressures may drive individuals to unwittingly participate in fraudulent activities. The EFCC has urged the public to remain vigilant and report suspicious financial dealings to the authorities.
