Operatives of the Abuja Zonal Command of the Economic and Financial Crimes Commission have arrested one Afolabi Samad, owner of a Yahoo Yahoo Academy in Abuja.
The 24-year-old was arrested in a sting operation on Thursday alongside 16 of his students.
The youngsters between the ages of 18 and 27 years, were arrested at their hideout located in Peace Court Estate, Lokogoma, a suburb of Abuja.
The owner of the alleged ‘Academy’ reportedly rented the 3-bedroom flat for N3 million to impact the tricks of cyber-frauds on his apprentices for undisclosed fees.
Item recovered from the suspects include laptops, phones, charms and two vehicles: a Lexus RX350 and Toyota Highlander.
A statement by EFCC spokesman Wilson Uwujaren said suspects would be charged to court as soon as investigations are concluded.