Operation Butterfly Net: 179 Arrested In N11bn Flutterwave Cyber Heist

Operation Butterfly Net: 179 Arrested In N11bn Flutterwave Cyber Heist

The Nigeria Police Force has arrested 1,088 suspects linked to financial crimes in 2024, recovering $11,450,000 and N142,261,254,228.80 in the process…READ MORE…

According to a statement on Tuesday by the Force Public Relations Officer, Olumuyiwa Adejobi, these arrests and recoveries are part of ongoing efforts to address Nigeria’s designation on the Financial Action Task Force (FATF) grey list for money laundering and terrorism financing risks.

Adejobi highlighted the crucial role of specialized police units such as the Special Anti-Fraud Unit, the National Cybercrime Centre, and the newly established Anti-Money Laundering Unit in tackling financial crimes.

He revealed that the National Cybercrime Centre alone was responsible for 751 arrests and the recovery of N8.82bn, $84,000, and 115,237.91 USDT. A major breakthrough, codenamed “Operation Butterfly Net,” targeted a cyberattack on Flutterwave, leading to the arrest of 179 suspects involved in laundering over N11bn.

Additionally, the police have intensified training efforts, with over 2,000 officers receiving specialized instruction on financial crime investigations, demonstrating the force’s commitment to strengthening Nigeria’s position in the global fight against financial crimes.

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