Reported by: Ijeoma G | Edited by: Gabriel Osa
Lagos — In a landmark continuation of one of Nigeria’s most extensive cybercrime trials, the Economic and Financial Crimes Commission (EFCC) on Wednesday, January 14, 2026, called its seventh prosecution witness in the case against Friday Audu, the alleged mastermind of a 792‑member cryptocurrency investment and romance scam syndicate. The testimony was heard before Justice Rahman Oshodi of the Lagos State Special Offences Court in Ikeja.
Audu is standing trial alongside Genting International Ltd on an amended eight‑count charge that includes allegations of forgery, impersonation, possession of fraudulent documents and computer‑related fraud linked to the syndicate’s operations.
The seventh prosecution witness, Rasheedah Chindaya, an investigator with the EFCC’s Eagle Flush Committee Operations, took the stand and provided detailed evidence aimed at uncovering the alleged organisational structure and financial mechanisms that sustained the syndicate.
Chindaya told the court that Genting International Ltd was initially incorporated as what appeared to be a legitimate gaming company, with initial directors Nasiru Barau and Yakubu contributing ₦10 million and ₦18 million in share capital, respectively. Both directors were later removed in 2025 and replaced by individuals identified as Ifeanyi and Matthew, who held ₦12 million and ₦18 million in shares.
She said investigators discovered that the Bank Verification Number (BVN) attached to Genting’s bank accounts matched that of Friday Audu, indicating his central involvement in the company’s financial operations. The BVN was also linked to around 10 corporate accounts involving multiple vendors, suggesting a web of interconnected financial entities under scrutiny.
According to Chindaya’s testimony, letters of inquiry sent to banks revealed that Genting’s accounts at one point held balances in excess of ₦34 billion, with substantial inflows traced through Bureau De Change (BDC) operators and entities such as Truly Reality and Garuba. She said Audu was the sole signatory to these accounts and that official records included documents seeking increases to the company’s banking limits.
The court also heard how funds from Genting’s accounts were allegedly moved to BDC operators and then converted into USDT cryptocurrency through digital wallets. One such digital wallet, created in May 2024 and last active in October 2024, reportedly received about ₦97 million traced to earlier fraud proceeds, later routed back into Genting’s bank accounts.
Chindaya further told the court that Audu personally received approximately ₦74 million, which was traced to his personal accounts at FCMB and allegedly used to furnish his office, purchase furniture and diesel, and cover other operational expenses — assertions the defence is expected to challenge as the trial progresses.
The witness also testified about another company, Anhongs, which was linked to Audu through shared email credentials and where he was the sole signatory. This company was connected to an address on Jolayemi Street, Lagos, where a related suspect was reportedly arrested.
Chindaya outlined elements of the December 2024 operation that led to the arrest of 792 suspects, comprising 193 foreigners — including Chinese, Filipinos and others — and 599 Nigerians, mostly adults around the age of 27 and above. The syndicate, she said, employed a recruitment strategy that drew Nigerians through social media advertisements targeting individuals with fast typing skills, while foreign nationals were brought in separately.
She described how recruits were allegedly trained as scammers, marketers and supervisors using prepared scripts to deceive victims — often through dating platforms where false bonds and investment opportunities were fabricated. Chindaya said victims were encouraged to make payments on fake websites and then blocked, with those willing to advance funds being handed over to foreign operators to complete the fraud cycle.
Under the syndicate’s system, Nigerian recruits reportedly earned between ₦200,000 and ₦800,000 monthly, while foreign nationals were said to receive between $500 and $1,000. Accommodation and transportation were provided, and some recruits who tried to withdraw were allegedly threatened with withheld pay.
Investigators also uncovered numerous properties across Lagos tied to Genting, including offices in Victoria Island, Lekki and Bishop Oluwole Street, and a six‑unit building on Oniru Island that was reportedly purchased in tranches under the company’s direction with Audu acting as guarantor using an address linked to another alleged syndicate leader.
Chindaya identified other alleged kingpins in the scheme, including individuals known as Ken, Sentu and Sim, some of whom remain at large, and said pre‑trial investigations found evidence of forged signatures on documents purportedly signed by former directors. The probe also additionally traced 384 pre‑registered SIM cards to individuals in Northern Nigeria who denied involvement.
Describing the case as unprecedented in the EFCC’s history, Chindaya said officers from multiple zonal offices were mobilised, with some facilities converted into holding cells to accommodate suspects due to the scale of the operation.
Justice Oshodi adjourned the matter to February 24 and 26, 2026, for continuation of the trial and further evidence presentation, including additional witness testimonies as the prosecution seeks to solidify its case against Audu and Genting International Ltd.
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