Nigeria Scams: Advance-Fee, Investment & Online Fraud Guide
Common scams in Nigeria and how to report to the EFCC, FCCPC, and your bank.
Emergency number: 112 or 199 — verify on official sources.
Last reviewed: 1 August 2026
Nigeria is both a source and a target of fraud. Internationally, Nigeria is associated with advance-fee fraud (sometimes called '419 scams', after the criminal code section) and business email compromise. Within Nigeria, residents face investment fraud, e-banking phishing, impersonation of government agencies, and job scams. The Economic and Financial Crimes Commission (EFCC) investigates financial crimes including cybercrime, while the Federal Competition and Consumer Protection Commission (FCCPC) handles consumer rights complaints.
For people inside Nigeria, the most common losses come from a familiar set of schemes. The fake bank alert scam plagues traders and small businesses: a 'buyer' shows a forged credit alert or SMS while the money never actually arrives, so goods walk out the door unpaid — always confirm receipt inside your own banking app before releasing anything. Phishing calls and texts posing as your bank's 'customer care' harvest card details, PINs, and OTPs, and SIM-swap attacks intercept banking codes. Ponzi and 'wonder bank' schemes with guaranteed monthly returns resurface in new wrappers every few years — the collapse of MMM Nigeria remains the cautionary tale — and forex, crypto, and agriculture-investment platforms promising fixed profits follow the same trajectory. Land fraud, including 'omo onile' resale of the same plot to multiple buyers, makes independent title verification essential before any property payment.
Job seekers face fake recruitment for overseas work requiring upfront 'processing' fees, and internationally, romance scams and BEC operations run by so-called 'Yahoo boys' target victims abroad — which means Nigerians' legitimate online transactions often face extra scrutiny too. Report financial crime to the EFCC (which accepts walk-in and online complaints), consumer disputes to the FCCPC, and always call your bank first when money has moved so accounts can be flagged while funds are still traceable.
Common scams
- Advance-fee fraud ('419 scams') targeting overseas victims
- Business email compromise (BEC) and invoice fraud
- Online banking and mobile money phishing
- Investment and ponzi schemes
Tourist-specific scams
- Overcharging transport and unofficial guides
- Fake ticket and accommodation scams
- Airport 'assistance' touts demanding fees for routine procedures
Online shopping scams
- Mobile banking and USSD code phishing
- Social media marketplace and non-delivery scams
- SIM swap fraud
- Fake bank credit alerts shown to sellers before goods are released
Job scams
- Fake overseas employment offers requiring upfront fees
- Task scams via messaging apps
- Recruitment 'form' and 'training' fees for jobs that never materialise
Romance scams
- Dating-app and social media romance leading to financial requests
- Long-distance partners with recurring 'emergency' transfer requests
- Romance grooming that pivots to forex or crypto 'opportunities'
Investment scams
- Ponzi and pyramid schemes targeting communities
- Fake forex and crypto trading platforms
- 'Wonder banks' and fixed-return agriculture investment schemes
How to report a scam here
- Contact your bank immediately to report and attempt to freeze fraudulent transactions
- Report financial crimes to the EFCC at efcc.gov.ng or contact the nearest EFCC zonal office
- Report consumer protection issues to the FCCPC at fccpc.gov.ng
Local reporting & protection links
Always verify reporting routes and emergency contacts on the official government or agency website for your country.
Bank & payment guidance
Contact your bank immediately to report the fraud and request a transaction hold - the sooner you call, the better the chance funds are still traceable through the interbank system. Use the number on your card or the official banking app rather than one sent to you. State that you were deceived into authorising the payment, ask for the receiving account to be reported and placed on watch, and record the reference number. If you sell goods, verify payments only inside your own banking app — never trust an SMS alert or a screenshot, both of which are routinely forged. Gather all transaction details, because the EFCC can investigate financial crimes and cybercrime and will need account numbers, timestamps, and chat records. If your PIN, USSD code, or OTP was shared, change them at once, and if your line suddenly loses service, contact your network operator immediately — it may be a SIM swap intercepting your banking codes.
Evidence to preserve
- Screenshot all messages, profiles, websites and payment pages
- Save transaction references, account numbers and crypto wallet addresses
- Keep emails with full headers where possible
- Note dates, times, names and phone numbers used
Frequently asked questions
What is a '419 scam'?
It refers to advance-fee fraud — a scam in which victims are promised a large sum of money in exchange for a smaller upfront payment or assistance. The promised funds never materialise. The name comes from Section 419 of the Nigerian Criminal Code.
How do I contact the EFCC in Nigeria?
You can contact the EFCC via their official website at efcc.gov.ng, by phone at +234 8093322644, or by visiting the nearest EFCC zonal office. Reports can also be submitted by email to [email protected].
How do I avoid the fake bank alert scam when selling goods?
Confirm every payment by logging into your own banking app or USSD balance — not by looking at the buyer's phone, an SMS alert, or a screenshot, all of which can be forged. Don't release goods until the money is genuinely reflected in your available balance.
Sources
- National police and cybercrime portals (verify on official sites)
- FTC / Action Fraud / Scamwatch consumer guidance