Economic and Financial Crimes Commission (EFCC) has raised alarm over a widespread identity fraud scheme involving over 12,000 Nigerian youths allegedly selling sensitive personal data to fintech institutions.
In a statement issued on Friday, the Commission said the youths—self-styled as “Account Suppliers” or “KYC Group”—offer victims between ₦1,500 and ₦2,000 in exchange for their Bank Verification Numbers (BVN), National Identity Numbers (NIN), passport photographs, and other identification documents.
These details are then resold to fintech platforms for up to ₦5,000 and used to open accounts for investment scams and other fraudulent activities.
The EFCC described the scheme as a threat to national security and warned Nigerians against surrendering personal data under any guise. “On no account should any Nigerian agree to be an Account Donor for any purpose,” the Commission stated.
The agency also highlighted a related scam involving fake airline ticket promos. Victims were lured with a 50% discount offer and asked to pay ₦500, disguised as a charity contribution. Upon downloading a malware-infected app, fraudsters gained unauthorized access to victims’ banking details and diverted funds to microfinance bank accounts.
Arrests have been made, and recovery efforts are ongoing. The EFCC reiterated its commitment to safeguarding Nigeria’s financial space and urged the public to remain vigilant against deceptive offers and digital fraud.
