Investments, Forex Scam Prevalent In Lagos -EFCC

 
The acting Chairman of the Economic and Financial Crimes Commission, EFCC, Abdulkarim Chukkol, has said investment and forex scams were the most common financial and economic crimes in the Lagos Zonal Command of the Commission.

Chukkol said as investment, Business Email Compromise (BEC) and forex scams, as well as land and property fraud were most prevalent in the zone.

He said the Lagos Command had received a total of 512 (five hundred and twelve) petitions on investments fraud and 876 (eight hundred and seventy-six)  petitions relating to forex-scams.
 
The acting Chairman also stated that the fraudulent activities involved the sums of N317, 908,343,469,  $3,205, 648 and N11, 686, 499, 431.79.
 
He made this disclosure through the Commander, Lagos Zonal Command, Michael Wetkas, during a one-day workshop on Economic and Financial Crimes Reporting for Journalists on Thursday, at the Commission’s Lagos Zonal Command. 
 
According to him, all manner of economic and financial crimes had, over the years, continued to thrive in the state owing to its status as the economic nerve centre of the country.
 
“Forex scam, Business Email Compromise, investment scams and land and property fraud, among others, are some of the financial and economic crimes prevalent within the Lagos environment,” he noted.

He also spoke about the alarming rate at which unsuspecting people  fall prey to scammers..
 
“In the last couple of months, we have intensified public sensitization in line with our belief that some of these crimes could be prevented, if people have the right information. 
 
“This is where your professionalism and collaboration are needed. We need the media to help in educating citizens to be circumspect in embracing investment opportunities, especially where the return on investment seems too good to be true, “ he added.