Rasheeda Chindaya, an operative of the Economic and Financial Crimes Commission (EFCC), has testified against Friday Audu, an alleged kingpin of an internet fraud syndicate comprising about 792 members.
Audu is standing trial alongside Genting International Co. Limited on an amended eight-count charge bordering on forgery, impersonation, possession of fraudulent documents, and computer-related fraud.
Chindaya appeared before the Lagos state special offences court in Ikeja on Wednesday.
BACKGROUND
In December 2024, EFCC carried out its largest single-day operation against cryptocurrency and romance scam networks by arresting 792 suspects in Lagos.
The suspects were arrested at a seven-storey building in Victoria Island, Lagos.
Members of the syndicate include 114 Chinese nationals, 40 Filipinos, two Khazartans, one Pakistani, and one Indonesian.
The foreigners were using the building to “train Nigerians on how to initiate romance and investment scams”.
The anti-graft agency at the time said the syndicate financed its operations through a company identified as Genting International Co. Limited (GICL).
In July 2025, a federal high court in Lagos ordered the final forfeiture of digital assets worth $222,729 seized from the syndicate.
WEDNESDAY’S PROCEEDINGS
Led in evidence by Bilikisu Buhari, the prosecution counsel, Chindaya told the court the outcome of the investigation carried out by the EFCC on the activities of the syndicate.
The prosecutor said Genting International Co. Limited was initially incorporated with Nasiru Barau and Yakubu as directors, holding share capital of N10 million and N18 million, respectively.
She added that in 2025, the two directors were removed and replaced by one Ifeanyi, with N12 million in shares, and one Matthew, who held N18 million.
Buhari told the court that the company was presented as a gaming company, adding that the bank verification number (BVN) linked to its bank accounts belongs to Audu.
She said the BVN was connected to about 10 corporate accounts involving several vendors.
The prosecutor further informed the court that the company operated accounts with balances worth billions of naira, with about N34 billion at one point.
She added that some of the cash inflows were traced to bureau de change (BDC) operators and entities such as Truly Reality and Garuba.
The prosecutor disclosed that Audu was the sole signatory to Genting’s bank accounts.
She said documents obtained from the bank showed that a request was made for an increase in the company’s cash limit and a board resolution appointing Audu as the sole signatory.
She said funds were routinely transferred from Genting’s accounts to BDC operators for conversion into the United States’ dollar cryptocurrency through digital wallets.
