The Federal High Court in Ikoyi, Lagos, has ordered the final forfeiture of digital assets valued at $222,729.86 USDT that were retrieved from Chinese nationals connected to online fraud and cyberterrorism. This decision was made by Justice Alexander Owoeye.
This was revealed in a statement released by the Economic and Financial Crimes Commission on Monday in response to the July 21, 2025, court order.
The forfeited assets were found in the possession of syndicate members detained during the “Eagle Flush Operation,” a raid in Lagos on December 10, 2024.
Chinese nationals engaged in online romance and crypto investment scams
The EFCC claims that the suspects, including the Chinese nationals, were among 792 people detained on suspicion of engaging in online romance fraud and cryptocurrency investment scams.
The commission stated, “Justice Owoeye gave the order, following an ex parte motion filed on July 18, 2025, by the EFCC, through its counsel, Zeenat Atiku.”
Atiku told the court during Monday’s application filing that it was supported by an affidavit that EFCC investigating officer Muazu Abdulrahman had deposed to.
According to Abdulrahman’s affidavit, the syndicate operated through Genting International Co. Limited, a company registered in Nigeria.
“Over the course of its activities, this company’s Union Bank account 0225100403 received a staggering sum of over N2,268,839,161 (Two Billion, Two Hundred and Sixty-Eight Million, Eight Hundred Thirty-Nine Thousand, One Hundred Sixty-One Naira) from April 12, 2024, to December 23, 2024.”
“An analysis of the company’s bank statement revealed that the primary inflows into the account originated from two cryptocurrency vendors: Chukwuemeka Okeke and Alhassan Aminu Garba.”
“Furthermore, Okeke and Garba were invited for questioning, and they willingly provided their statements under caution.”
“They reported that they received a total USDT valued at $2,386,642 from the syndicates, resulting from USDT purchased through peer-to-peer trading.”
“They also identified the wallet addresses utilised by the group for transferring funds (USDTs),” he said.
Order for internet fraud’s proceeds to Nigerian government
Atiku urged the court to order the forfeiture of the funds to the Federal Government, arguing that they were likely the proceeds of money laundering and computer-related fraud.
After reading the motion and its attachments, Justice Owoeye decided that the application had enough merit to grant the request.
He declared, “Consequently, the motion succeeds and is hereby granted.”
Eight Chinese nationals jailed for internet fraud
On July 4, a Federal High Court in Ikoyi, Lagos, found eight Chinese nationals guilty of cyberterrorism and internet fraud and sentenced them.
“The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission, EFCC, on Friday, July 4, 2025, secured the conviction and sentence of 8 Chinese for cyber-terrorism and internet fraud before Justice Chukwujekwu Aneke of the Federal High Court sitting in Ikoyi, Lagos,” the anti-graft agency said.
The names of those found guilty were Liu Ke Fan, Ting Liao, Shi Dong Fu, Wang Shi Long, Zeng Xian Tao, Weng Mao Rong, Pan Cai Qi, and Wang Xiong Wei, also known as Xiao Bai.
“They are among the syndicate of 792 alleged cryptocurrency investment and romance fraud suspects arrested on December 19, 2024, in Lagos during a sting operation tagged ‘Eagle Flush Operation’ conducted by EFCC operatives,” the statement added.
The conviction marks a significant turning point in the EFCC’s ongoing efforts to combat foreign cybercrime syndicates operating in Nigeria.