Promo of doom: EFCC uncovers 12,000 youths in deadly scam ring selling Nigerians’ identities

By Kazeem Ugbodaga

The Economic and Financial Crimes Commission (EFCC) has issued a red alert over a growing, dangerously sophisticated scam exploiting Nigerians under the guise of airline ticket discounts, investment opportunities, and charitable payments.

According to the EFCC, “the scheme involves the use of malware to gain unauthorized access to the account information of unsuspecting victims.”

According to the commission, these fraudsters lure victims using baits such as “Promo”, “Investment Windows”, and other seemingly attractive deals.

It said once baited, victims are tricked into handing over sensitive personal data, which is then exploited for massive financial theft.

A particularly disturbing case cited by the Commission involved a “Promo” offering a 50% discount on ticket purchases with a leading foreign airline, in which unsuspecting Nigerians were instructed to pay just N500, a payment falsely disguised as a charity contribution, while that small payment turned into a portal for disaster.

“The N500 payment which is now dressed as Charity payment is the leeway through which the fraudsters gain access to their victim’s personal information,” the EFCC disclosed.

It explained that victims were then instructed to download a fake airline app, giving hackers full access to their bank details, adding that funds were subsequently drained and rerouted into microfinance bank accounts, making recovery complex.

The EFCC said even more alarming is the rise of a new wave of young fraud operatives, dubbed “Account Suppliers” or “KYC Group.”

These individuals, it said, reportedly offer Nigerians between N1,500 and N2,000 to surrender their NIN slips, BVNs, passport photos, and other ID documents only to sell that data to Fintech companies for up to N5,000.

“These actors are up to 12,000 all over the country seeking account donors,” the EFCC warned, adding that “These information are then used to open accounts with Fintech companies for investment scams and sundry fraudulent schemes.”

The commission said its operatives had begun arresting some of these fraudsters and had recovered a portion of the stolen funds.

However, it issued a strong warning to Nigerians: “On no account should any Nigerian agree to be an Account Donor for any purpose as this is a threat to national security.”

The Commission stressed its commitment to “safeguarding the financial space of the nation in the overall interests of all Nigerians.”

As the digital fraud landscape grows darker, the EFCC urged all citizens to be vigilant, verify promotional offers, and never surrender sensitive financial or personal data for any incentive no matter how small or convincing it may appear.