EFCC Arraigns Chinese National for Cybercrime, Arrests Two Nigerians in N275M Company Fraud

The Economic and Financial Crimes Commission (EFCC) continues its crackdown on cyber and financial crimes with two major developments in Lagos and Akwa Ibom.

Chinese National Li Kuang Kuang Arraigned for Cybercrime in Lagos

The Lagos Zonal Directorate 1 of the EFCC on Thursday, May 15, 2025, arraigned a Chinese national, Li Kuang Kuang, before Justice Daniel Osiagor at the Federal High Court in Ikoyi, Lagos. Li faces a one-count charge of cybercrime, stemming from his alleged involvement in a syndicate accused of cryptocurrency investment and romance scams.

According to Dele Oyewale, Head of Media & Publicity at the EFCC, Li was among 792 suspects arrested on December 19, 2024, during the EFCC’s large-scale operation, “Eagle Flush Operation,” aimed at dismantling cybercrime networks.

The charge read in court alleged that Li and his company, Genting International Co. Limited, "willfully accessed a computer system to destabilize and destroy the economy and social structure of Nigeria." This offense is in violation of Section 18 of the Cybercrime (Prohibition, Prevention, Etc) Act, 2015 [as amended in 2024].

Li Kuang Kuang pleaded not guilty. Following his plea, prosecuting counsel U.S. Kyari requested a trial date and remand of the defendant. Justice Osiagor granted the request and ordered Li to be held at the Ikoyi Correctional Centre pending the next hearing, scheduled for July 18, 2025.

EFCC Uyo Nabs Two Employees Over N275 Million Fraud

In a separate case, the EFCC’s Uyo Zonal Directorate arrested Sylvanus Edet Akpan, an Auditor, and Akaninyene Enefiok Achibong, a Cashier at Ubotex Limited, Uyo, Akwa Ibom State, for allegedly embezzling N275 million.

The arrests, made on April 25 and May 12, 2025, followed a petition from the company alleging the duo conspired to manipulate financial records through forgery, criminal breach of trust, and theft by conversion.

An independent audit of Ubotex Limited’s financial records from 2021 to 2025 revealed that Akpan and Achibong had falsified payment vouchers and forged staff signatures to siphon funds. While initial estimates put the fraud at N200 million, the audit confirmed a loss of N275 million.

Both suspects have admitted to the allegations and are expected to be formally charged in court soon.