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 by EFCC operatives 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 three-bedroom flat for N3 million to impact the tricks of cyber-frauds on his apprentices for undisclosed fees.
Item recovered from the suspects included 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.
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