Police in Nigeria have dismantled a sophisticated cyber-crime syndicate accused of stealing more than N7.7bn (£3.8m; $4.8m) from a major telecommunications company.
The group allegedly compromised the billing systems of an unnamed mobile operator to illegally divert airtime and data, which was then converted into cash and high-end assets.
Following a weeks-long sting operation across northern Nigeria and the capital, Abuja, detectives recovered two residential houses, two shopping plazas, and a fleet of vehicles believed to have been bought with the proceeds of the fraud.
An ‘inside’ job
The investigation began after the affected telecom firm reported “unauthorised activities” within its internal payment infrastructure.
Police say the hackers managed to obtain the login credentials of internal staff, granting them “unlawful access” to the core systems that manage customer accounts and credit.
The ‘Retail’ front
In a series of raids in Kano and Katsina states, officers uncovered what appeared to be a massive retail operation used to “launder” the stolen credit into physical goods. Recovered items include:
- Over 400 laptops and 1,000 mobile phones found in retail outlets.
- Property: Two mini-plazas and two residential buildings in Kano.
- Vehicles: A Toyota RAV4 and other luxury items.
- Cash: Substantial sums of money traced to the suspects’ bank accounts.
Six men—Ahmad Bala, Karibu Mohammed Shehu, Umar Habib, Obinna Ananaba, Ibrahim Shehu, and Masa’ud Sa’ad—are currently in custody and will face charges once investigations are complete.
Protecting the ‘Digital Ecosystem’
The Inspector-General of Police, Kayode Egbetokun, praised the National Cybercrime Centre (NPF–NCCC) for the breakthrough, describing it as a major win for the country’s digital security.
“The Nigeria Police Force is resolved to safeguard our digital and financial ecosystems and dismantle criminal networks, regardless of their position or affiliation,” a spokesperson said on Wednesday.
Analysis: A growing threat to big tech
By Segun Ojumu, Africa Eye News, Abuja
This case highlights a growing trend in Nigeria where cyber-criminals are moving away from targeting individuals and instead aiming for the “big fish”—telecoms and banks. By gaining internal access, these syndicates can siphon off values that are much harder to track than traditional bank transfers.
The recovery of physical shopping plazas and retail stores suggests the group was building a legitimate-looking business empire on the back of digital theft. For Nigeria, which is currently trying to convince foreign investors that its digital economy is safe, this bust is as much about optics as it is about justice.
The suspects are expected to be arraigned in the Federal High Court.
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