EFCC arraigns two Chinese, Nigerian over alleged ₦3.4bn, $2.5 million fraud

The Economic and Financial Crimes Commission (EFCC) has arraigned two Chinese nationals, Huang Haoyu and An Hongxu, alongside a Nigerian, Audu Friday, before Justice Daniel Osiagor of the Federal High Court in Ikoyi, Lagos. The trio faces an 11-count charge encompassing cyber-terrorism, computer-related offenses, and money laundering, involving sums totaling ₦3,407,824,740.78 and $2,562,203.

The defendants were apprehended on December 19, 2024, during the EFCC’s “Eagle Flush Operation,” which targeted a syndicate of 792 individuals allegedly involved in cryptocurrency investment scams and romance fraud. Investigations revealed that under the directive of Huang Haoyu, Audu Friday incorporated Genting International Co. Ltd., a company purportedly used as a conduit for the illicit activities.

One of the charges alleges that the defendants conspired to exploit computer systems to destabilize Nigeria’s economic and social structures. They are accused of recruiting Nigerian youths to impersonate foreign nationals in fraudulent schemes aimed at financial gain. Additionally, they allegedly retained over ₦3.4 billion in a Union Bank account, funds suspected to be proceeds of unlawful activities.

Upon the reading of the charges, all three defendants pleaded not guilty. The prosecution counsel, Bilkisu Buhari, requested a short trial date and the remand of the defendants in EFCC custody. Defense counsel, Emeka Okonkwo, SAN, concurred, pending the hearing of the bail application. Justice Osiagor granted the request, ordering the defendants’ remand in EFCC custody and adjourning the case for the bail hearing.

This case underscores the EFCC’s commitment to combating cybercrime and money laundering, particularly involving international collaborations that threaten Nigeria’s economic stability. The commission continues to intensify efforts to dismantle such syndicates and ensure that perpetrators face the full wrath of the law.