The Economic and Financial Crimes Commission (EFCC) has raised the alarm over a rising wave of cyber fraud involving fake foreign airline ticket promotions, which has resulted in several Nigerians losing their hard-earned money.
In a statement issued on Thursday, the anti-graft agency said it uncovered a sophisticated scam in which unsuspecting victims are lured through social media campaigns offering discounts on flight tickets.
The victims are then manipulated into downloading fake apps or making token payments, which serve as bait for hackers to gain unauthorized access to their bank accounts.
“A case in point was a so-called ‘Promo’ offering the public a 50 percent discount on ticket purchases from a foreign airline,” the EFCC said.
“Victims were tricked into paying N500 into a designated account, now disguised as a charity donation. This payment led to unauthorized access to their personal banking information.”
According to the Commission, the fraudsters exploit this access to transfer funds into accounts operated by microfinance and fintech institutions, often converting the stolen money into cryptocurrency to make tracing difficult.
EFCC investigations further revealed that the scheme is largely run by a growing network of young Nigerians who describe themselves as “Account Suppliers” or members of the “KYC Group.” These individuals allegedly pay between N1,500 and N2,000 to unsuspecting citizens in exchange for sensitive personal information such as NIN slips, BVN, passport photographs, and other identification documents.
“This data is then sold to certain fintech platforms for around N5,000 and used to open accounts tied to various online investment scams and fraudulent activities,” the statement added.
The Commission confirmed that it has already made several arrests connected to this scheme and has begun recovering funds traced to the fraudulent transactions.
It cautioned the public against sharing personal data for any purpose, warning that being an “account donor” could endanger both individual and national security.
“The EFCC remains committed to safeguarding Nigeria’s financial space and urges citizens to remain vigilant and security conscious,” it concluded.
