Nigeria’s Economic and Financial Crimes Commission (EFCC) has charged Usie Otukpa Osang with eight counts of fraud for his alleged role in a multimillion-dollar cryptocurrency scam.
Key Takeaways:
VASPA notes the case counters claims that Nigeria acts as a safe haven for global cybercriminals.Justice Egwuatu ordered the defendant remanded in Kuje custody ahead of a July 14, 2026 bail hearing.While the high-profile arraignment is being viewed as a step toward altering the perception that Nigeria is indifferent to international cybercrime victims, Rume Ophi, Lead of Programs and Communication at VASPA, pushed back against the country’s reputation as a cybercrime hub.
Ophi suggested that foreign nationals are often the true masterminds behind these operations, recruiting locals to execute them. While acknowledging that more can be done, Ophi emphasized that Nigerian authorities deserve credit for their enforcement efforts and urged the public to promptly report crypto-related scams.
