The Nigeria Police Force National Cybercrime Centre (NPF-NCCC) has traced more than ₦3.6 billion in suspected proceeds of cybercrime converted into cryptocurrency, leading to the arrest of seven suspects in six separate investigations.
The Assistant Inspector-General of Police in charge of the NPF-NCCC, AIG Akaninyene Ezima, disclosed this during a press briefing in Abuja, where he provided updates on ongoing investigations into various forms of cybercrime.
According to Ezima, the investigations cover a range of offences, including business email compromise, investment fraud, identity theft, sextortion, romance scams, impersonation and property fraud.
One of the major cases involves Kelechi Sistus Ihekaire, proprietor of Kestart Technology, who was arrested over an alleged international investment fraud and money-laundering scheme.
The Police said approximately ₦3.62 billion in suspected criminal proceeds was converted into Tether (USDT) through peer-to-peer cryptocurrency transactions conducted on the Bybit platform.
The NPF-NCCC said its investigators are working to trace the flow of the funds, identify other individuals who may be connected to the alleged scheme and recover suspected criminal assets.
The Centre also disclosed that its ongoing Operation Broken Mask uncovered more than 12.5 million victim email records linked to individuals across more than 50 countries.
The operation, according to the Police, was carried out with the support and collaboration of international law-enforcement agencies, including authorities in Germany and Canada.
AIG Ezima stressed that the NPF-NCCC would continue to strengthen its capacity to detect, investigate and disrupt sophisticated cybercrime networks, particularly those exploiting digital platforms and cryptocurrencies to conceal illicit financial transactions.
He added that investigations into the cases remain ongoing, while suspects against whom prima facie cases are established would be prosecuted in accordance with the law.
The Police further assured the public that efforts were underway to recover suspected proceeds of crime and dismantle networks involved in cyber-enabled financial crimes.