By Paul Joseph
Operatives of the Economic and Financial Crimes Commission (EFCC) have arrested a Cameroonian businessman, Bekono Marc Eric, over an alleged N1.5 billion bank fraud in Lagos.
The suspect, 47, was apprehended on Thursday, April 23, 2026, by officers from the Lagos Zonal Directorate 2 of the commission in the Ikorodu area, following intelligence linking him to a cross-border financial crime network.
According to investigators, the suspect is believed to be part of a transnational syndicate specialising in credit card-related fraud. The group allegedly operates by opening bank accounts within Nigeria, securing Automated Teller Machine (ATM) cards and corresponding personal identification numbers (PINs), and then relocating to neighbouring countries to carry out unauthorised transactions.
Authorities say the syndicate typically targets accounts with high balances, exploiting system vulnerabilities to withdraw or transfer funds without the knowledge of account holders.
The EFCC said investigations are ongoing to identify other members of the network and trace the full extent of the alleged fraud.
The commission added that the suspect will be charged to court upon the conclusion of investigations.
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