Nigeria, Jan. 22 -- The Economic and Financial Crimes Commission (EFCC) on Thursday revealed a new wave of investment scams and fraudulent air ticket discounts package through which hundreds of Nigerians have been defrauded of billions of naira.

The anti-graft agency said the first syndicate of fraudsters deployed a fraudulent airline discount scheme to lure their victims, while the other is a company named Fred & Farid Investment Limited, or simply F&F Investment, which operated by luring Nigerians into a bogus investment arrangement.

EFCC's Director of Public Affairs Wilson Uwujaren, disclosed this during a press briefing in Abuja on Thursday.

According to Mr Uwujaren, the airline discount scheme involved advertisement of a discount ...