The Lagos Zonal Directorate 1 of the Economic and Financial Crimes Commission (EFCC) arraigned Li Kuang Kuang, a Chinese national, before Justice Daniel Osiagor of the Federal High Court sitting in Ikoyi, Lagos, on Thursday, May 15, 2025. Li was charged with a one-count offence of cybercrime.
According to a statement issued by Dele Oyewale, Head of Media & Publicity for the EFCC, Li Kuang Kuang is part of a syndicate involved in alleged cryptocurrency investment and romance fraud.
The syndicate comprised 792 suspects arrested on December 19, 2024, in Lagos during a large-scale sting operation known as ‘Eagle Flush Operation.’
The charge against Li reads: “That you, Li Kuang Kuang, and Genting International Co. Limited, sometime in December 2024 at Lagos within the jurisdiction of this Honourable Court, willfully caused to be accessed a computer system for the purpose of destabilizing and destroying the economy and social structure of Nigeria and thereby committed an offence contrary to and punishable under Section 18 of the Cybercrime (Prohibition, Prevention, Etc) Act, 2015 [As Amended, 2024].”
A statement by Dele Oyewale, EFCC’s Spokesman, noted that when the charge was read to him, Li pleaded not guilty.
Following his plea, the prosecution counsel, U.S. Kyari, requested a trial date and that the defendant be remanded in custody. Justice Osiagor granted the request, remanding Li Kuang Kuang at the Ikoyi Correctional Centre and adjourned the case to July 18, 2025.
In a separate development, the EFCC’s Uyo Zonal Directorate has arrested two employees of Ubotex Limited, Uyo, Akwa Ibom State, for alleged fraud amounting to N275 million.
Sylvanus Edet Akpan, the company’s Auditor, and Akaninyene Enefiok Achibong, a Cashier, were arrested on April 25, 2025, and May 12, 2025, respectively.
The arrests followed a petition alleging that the duo conspired to manipulate the company’s accounts, committing criminal conspiracy, breach of trust, forgery, and stealing by conversion.
An external auditor engaged by the petitioner reviewed Ubotex Limited’s financial records from 2021 to 2025 and discovered that Akpan and Achibong falsified account books and created fictitious payment vouchers to steal company funds.
The suspects were also found to have forged the signatures of staff members responsible for various duties as part of the scheme.
While initial estimates suggested that N200 million had been stolen, the external audit revealed the actual amount was N275 million. Both suspects have admitted to the allegations and will soon be formally charged in court.
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