Fraud categories
Scams don't look
the same everywhere.
Here's what they
look like here.
Four patterns account for a large share of what Nigerians actually report right now not generic "online scam" advice, but the specific mechanics, red flags, and the exact agency that handles each one.
TIRMSCBN/NCC SIM-swap check, live since April 2026
SECNow enforces jail time for Ponzi operators
NANTAHas a public visa-agent verification portal
FCCPCFined Meta $220M over data & consumer breaches
How it plays out
- A "customer service" account on WhatsApp, Facebook, or Telegram claims there’s a problem with your wallet and asks for your OTP, PIN, or debit card details — the single most common fintech scam reported in 2026.
- A fraudster bribes or social-engineers a telecom agent into transferring your number onto their SIM. Once it completes, your bank’s USSD codes, OTPs, and transaction alerts all go to their device instead of yours.
- A fake QR code redirects a payment meant for a merchant into the scammer’s own wallet.
- Accounts opened in your name without your BVN or NIN, exploiting looser identity-verification paths some platforms still allow.
Red flags
- Any message asking you to share an OTP, PIN, or "verification code" — no legitimate platform ever needs this from you
- Your phone suddenly loses all signal with no explanation — treat this as an active SIM swap, not a network glitch
- A link asking you to "verify" or "upgrade" your account outside the official app
What actually helpsIf your phone loses signal unexpectedly, contact your bank immediately to freeze transactions before contacting your telecom provider. Banks can now check a number’s SIM-swap status in real time through the CBN/NCC’s TIRMS portal before authorizing large transfers — ask your bank if this check was run.
How it plays out
- A seller with a well-curated page and active comments offers goods at prices noticeably below the market rate.
- Payment is requested by direct bank transfer to a personal account, never an escrow or verified checkout.
- After payment, the seller stops responding, blocks the buyer, or sends a fake tracking number for a courier that doesn’t exist.
- The same operator resurfaces under a new handle after being exposed, often reusing the same product photos.
Red flags
- No verifiable physical address and no phone number — only a DM or WhatsApp line
- The account was created only weeks or months ago — check the date of its very first post
- Every "review" lives only in the seller’s own comment section, with nothing independent to confirm them
What actually helpsReverse-search product photos and the seller’s name before paying. For any order above a small amount, insist on part-payment on delivery, or use an escrow arrangement you choose yourselves — never one the seller proposes and controls.
How it plays out
- An "agent" guarantees visa approval for a flat, often very large, fee — no legitimate agent can ever guarantee an embassy’s decision.
- Fake job offers requiring upfront payment for "security clearance" or "medical checks" before a visa or work permit is issued.
- Forged supporting documents (bank statements, accommodation contracts, LMIA letters) submitted on the applicant’s behalf — the applicant, not the agent, bears the consequences if the embassy detects the fraud.
- Payment demanded in cash or to a personal account, with pressure to pay quickly before "the slots close."
Red flags
- Any guarantee of approval — the honest answer to "can you guarantee my visa?" is always no
- The agent isn’t listed on NANTA’s public member-verification portal, or can’t produce a NANTA ID card on request
- No physical office, and all communication happens only through WhatsApp DMs
What actually helpsVerify any travel agent against NANTA’s member portal before paying anything. For the visa itself, apply directly through the embassy’s own listed visa application centre (VFS Global, TLScontact, etc.) — the fee is fixed regardless of who you go through, so a "discount" from an unofficial agent has no basis.
How it plays out
- An app pays users to "rate" videos or complete simple tasks, with a referral structure that rewards recruiting new users far more than the tasks themselves.
- An investment platform promises fixed daily or weekly returns, often paid in USDT, regardless of any real market conditions.
- Early withdrawals process smoothly to build trust, followed by mounting excuses once larger sums are involved — the exact pattern behind the CBEX collapse, which cost Nigerian investors an estimated hundreds of millions of dollars in 2025.
- Heavy promotion through WhatsApp groups, Instagram, and Telegram, sometimes using AI-generated videos of real public figures appearing to endorse the platform.
Red flags
- Any "guaranteed" return, especially one paid on a fixed daily schedule — no real investment can promise this
- A referral or "VIP tier" system that rewards recruiting others more than the underlying product or service
- The platform isn’t on the SEC’s public list of registered capital market operators
What actually helpsVerify any investment platform against the SEC’s public register before depositing anything — Nigeria’s Investments and Securities Act 2025 now makes running an unregistered Ponzi scheme a criminal offence with real prison time, precisely because of losses like CBEX.
Verified official channels
Who actually handles this in Nigeria
These are the real federal bodies with jurisdiction over fraud, scams, and the sectors they happen in — not a generic "contact your local authority" list. Every link goes straight to the agency's own official site.
EFCC✓ verified
Economic and Financial Crimes CommissionNigeria’s lead agency for investigating and prosecuting fraud, advance-fee scams, and money laundering. Reporting is free — through efccnigeria.org or the Eagle Eye App.
efcc.gov.ng ↗ CBN✓ verified
Central Bank of NigeriaRegulates banks and fintechs, and runs consumer-protection and fraud-awareness programs for the financial sector.
cbn.gov.ng ↗ SEC✓ verified
Securities and Exchange CommissionRegulates the capital market and enforces the Investments and Securities Act 2025 against unregistered investment and Ponzi schemes.
sec.gov.ng ↗ FCCPC✓ verified
Federal Competition & Consumer Protection CommissionHandles complaints against merchants, vendors, and digital platforms for unfair or deceptive business practices.
fccpc.gov.ng ↗ NCC✓ verified
Nigerian Communications CommissionRegulates telecoms and SIM registration. Its Consumer Affairs Bureau handles SIM-swap and telecom-fraud complaints.
consumer.ncc.gov.ng ↗ NITDA✓ verified
National Information Technology Development AgencyOversees IT policy and data protection — relevant when a scam involves a data breach or unlawful use of personal data.
nitda.gov.ng ↗ NPF✓ verified
Nigeria Police ForceIts cybercrime unit investigates online fraud reported through local police divisions or the force’s official channels.
npf.gov.ng ↗ NDIC✓ verified
Nigeria Deposit Insurance CorporationProtects bank depositors and manages claims when a licensed deposit-taking institution is closed or fails.
ndic.gov.ng ↗ ICPC✓ verified
Independent Corrupt Practices CommissionInvestigates corruption-linked fraud, particularly where a public official or public funds are involved.
icpc.gov.ng ↗ NFIU✓ verified
Nigerian Financial Intelligence UnitReceives suspicious-transaction reports from banks and other institutions as part of the national anti-money-laundering system.
nfiu.gov.ng ↗
Links point to each agency's own official website. FRNG has no affiliation with any of these bodies — we simply route reports to the right place.
