Alleged Forgery: EFCC Presents Seventh Witness Against Alleged Ringleader of 792-Member Cryptocurrency Investment Scam Syndicate in Lagos

Ikeja, Lagos, January 14, 2026

The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 1, on Wednesday, January 14, 2026, presented its seventh prosecution witness, PW7, Rasheedah Chindaya, an operative of the Commission, in the ongoing trial of Friday Audu, the alleged ringleader of a 792-member cryptocurrency investment and romance scam syndicate.
Audu is standing trial alongside Genting International Ltd before Justice Rahman Oshodi of the Lagos State Special Offences Court sitting in Ikeja on an amended eight-count charge bordering on forgery, impersonation, possession of fraudulent documents and computer-related fraud.
At the resumed hearing, Chindaya, an investigator attached to the EFCC’s Eagle Flush Committee Operations, narrated how Audu allegedly coordinated a sophisticated cybercrime network whose activities culminated in the arrest of 792 suspects in December 2024.

Led in evidence by prosecution counsel, Bilikisu Buhari, the witness told the court that investigations revealed that Genting International Ltd was initially incorporated with Nasiru Barau and Yakubu as directors, with share capital contributions of ₦10 million and ₦18 million respectively.
She stated that both directors were removed in 2025 and replaced by one Ifeanyi, who held ₦12 million in shares, and one Matthew, with ₦18 million in shares.
According to Chindaya, Genting International Ltd was presented as a gaming company, but investigations revealed otherwise. She disclosed that the Bank Verification Number (BVN) linked to the company’s bank accounts matched that of Audu.
She further stated that the same BVN was connected to about 10 corporate accounts involving several vendors.

The witness testified that Genting International Ltd had financial links with other companies, including YENGJIEPENG, BT8 Housing Nigeria Limited and BNN Construction Limited.
She said: “Letters of investigation sent to several banks confirmed that Genting operated accounts with balances running into billions of naira, with a peak balance of about ₦34 billion at a point.
“Some inflows were traced to Bureau De Change (BDC) operators and entities such as Truly Reality and Garuba.

“Truly Reality was linked to one Chukwuemeka Okeke, who was also linked to Audu, and Audu was the sole signatory to Genting’s bank accounts.”
Chindaya identified several documents obtained from banks, including a request for an increase in Genting’s bank transaction limit and a board resolution appointing Audu as the sole signatory to the company’s accounts.
She told the court that funds from Genting’s accounts were routinely transferred to BDC operators for conversion into USDT cryptocurrency through digital wallets.
“One such wallet, created in May 2024 and last used in October 2024, allegedly received about ₦97 million, which was traced to proceeds of an earlier fraud and later transferred to Genting’s Union Bank account,” she said.
The witness also testified that Audu personally received about ₦74 million, which was paid into his personal account and later traced to his FCMB account.
“The funds were used to furnish his office, purchase furniture and diesel, and meet other operational expenses,” she added.
Giving further testimony, Chindaya spoke about another gaming company, Anhongs, whose account was opened in August 2024. She stated that Audu was also the sole signatory to the account and that the same email address used by Genting was deployed for Anhongs’ operations.

She added that the company was linked to a suspect arrested at an address on Jolayemi Street, Lagos.
According to her, “During the December 2024 operation, a total of 792 suspects were arrested, comprising 193 foreigners—145 Chinese nationals, about 40 Filipinos, a Tunisian and others—and 599 Nigerians, mostly youths aged 27 and above.
“Nigerians and foreigners were recruited separately, with Nigerians sourced through social media advertisements that required fast typing skills.”
The matter was adjourned to a later date for the continuation of trial.