Nigeria has emerged as a key focus in a major international crackdown on cyber-enabled financial crimes and terrorism financing, following the arrest of several suspects linked to a global cryptocurrency Ponzi scheme that defrauded investors across 17 countries.

The arrests were part of a coordinated international operation led by INTERPOL and the African Union Mechanism for Police Cooperation (AFRIPOL), codenamed Operation Catalyst. The two-month operation, conducted between July and September 2025, targeted financial crimes connected to terrorism financing and money laundering across the African continent.

According to INTERPOL, Operation Catalyst is the first of its kind in Africa, leading to 83 arrests across six countries, including Nigeria, Kenya, and Angola, and the identification of over 160 persons of interest. Investigators have so far traced about $260 million in illicit funds in both fiat and virtual currencies.

In Nigeria, security agencies apprehended 11 suspected terrorists, including alleged senior members of extremist groups. The suspects were also linked to a cryptocurrency-based Ponzi network that masqueraded as a legitimate trading platform but was found to have ties to terrorist financing activities.

Investigations revealed that the syndicate operated globally, defrauding more than 100,000 victims and siphoning over $562 million from investors in countries such as Cameroon, Kenya, and Nigeria.

INTERPOL stated that several high-value crypto wallets connected to the Nigerian network are now under forensic investigation. Authorities believe some of the funds were channelled into terrorism-related activities, underscoring the growing link between digital finance fraud and security threats.

A Red Notice has also been issued for one of the alleged masterminds accused of scamming victims of approximately $5 million. The suspect reportedly used a complex web of crypto wallets and digital exchanges to obscure financial trails and avoid detection.

Across all six participating countries, more than 15,000 individuals and entities were screened, resulting in the seizure of about $600,000 in cash and digital assets. Authorities say ongoing investigations aim to recover more stolen funds and dismantle the wider network behind the fraudulent scheme.

INTERPOL commended the Nigerian law enforcement agencies for their cooperation, noting that the success of Operation Catalyst demonstrates Africa’s growing ability to combat transnational financial crimes through shared intelligence and coordinated enforcement.