INTERPOL arrests Nigerian suspect over alleged $2.4 million fraud laundered through crypto

LAGOS, Nigeria — The International Criminal Police Organization (INTERPOL) has announced the arrest of a Nigerian suspect linked to an alleged $2.4 million international investment fraud carried out through messaging apps, with proceeds allegedly laundered through cryptocurrency transactions.

The statement was released on Thursday, October 22, 2026.

Part of a wider operation

The arrest was part of Operation Serengeti III, a cybercrime enforcement drive that ran from June 29 to August 31, 2026. Law enforcement agencies from 21 countries, including Nigeria, arrested 1,462 suspects, disrupted 10,909 malicious networks and recovered more than $105 million in illicit funds, according to INTERPOL.

Investigators identified 65,929 victims targeted by cybercriminal networks, with financial losses linked to the activity exceeding $385 million.

Other Nigerian case

Separately, authorities in Nigeria arrested a suspect behind a large-scale phishing and business email compromise operation that harvested software credentials and amassed about 2.1 million email addresses. Investigators also recovered a luxury vehicle suspected of having been bought with criminal proceeds.

Nigeria’s cybercrime profile

INTERPOL’s African Cyber Threat Assessment Report 2026 found that Nigeria is both a major target of cyberattacks and a key source of cyber-enabled financial crime in Africa. The report identified Nigeria as one of Africa’s ransomware hotspots, with 5,822 detections in 2025. Criminal networks based in the country continue to play a prominent role in business email compromise schemes and international money laundering.

In March 2026, INTERPOL estimated that $442 billion was lost globally to financial fraud in 2025, according to its Global Financial Fraud Threat Assessment.