Hushpuppi, a Nigerian billionaire based in Dubai was arrested by the Federal Bureau of Intelligence and the international police. He was said to be apprehended based on the premise of fraud and money laundering, after some cases of Covid-19 ventilator $35million fraud was linked to him and one of his friend Woodberry in UAE, Dubai.
In August 2019, the United States of America’s law enforcement agents also arrested seventeen persons mostly Nigerians in a fraud and money laundering operations of $46million internet scam. Two Nigerians ,Valentine Iro, and Chukwudi Christogunus Igbokwe were among the people arrested.
Cyber financial crime is on the rise globally. It is a bigger risk now than ever before due to the sheer number of connected people and devices. Sadly, this has caused Nigeria to have a bad reputation. An average Nigerian has a problem with applications for Visa, whether it is for study or work due to the global disrepute of fraud.
Also, Nigerians might lose potential foreign investors who have lost confidence in the integrity of Nigerians. Whether we like it or not, our actions can bring long-lasting consequences on the people around us or people related to us. This is why it is essential for everyone to embrace the basic values of honesty and integrity.