Nigeria Deports 102 Foreigners Linked to Crypto Scams Amid Crackdown

Nigeria's Economic and Financial Crimes Commission (EFCC) has deported 102 foreign nationals convicted of involvement in cryptocurrency investment scams. The individuals were part of a larger group apprehended in December 2024 after a months-long investigation into fraudulent operations based in Lagos.

The crackdown reflects growing regulatory scrutiny of crypto-related fraud in Nigeria, where scammers have exploited low financial literacy rates. Schemes like the CBEX investment platform promised unrealistic returns before collapsing, leaving victims with significant losses.

Authorities dismantled the criminal network operating from a Lagos building, arresting over 700 suspects. Those convicted are being processed and deported as Nigeria intensifies efforts to combat online financial crimes targeting both local and international victims.