Nigeria, April 25 -- The Economic and Financial Crimes Commission (EFCC) has arrested a Cameroonian businessman, Bekono Eric, over an alleged N1.5 billion fraud involving a first-generation bank in Lagos.

The anti-graft agency said in a statement on Friday that Mr Eric, 47, was arrested on Thursday in the Ikorodu area of Lagos over his alleged involvement in a cross-border syndicate linked to credit card fraud.

EFCC spokesperson Dele Oyewale said preliminary investigations showed the suspect was part of a transnational network that allegedly targets bank customers through fraudulent ATM card transactions.

According to the commission, members of the syndicate reportedly open bank accounts in Nigeria, obtain Automated Teller Machine (ATM...