The Economic and Financial Crimes Commission (EFCC) has reportedly arrested 29 men suspected to be internet fraudsters in Ibadan.

According to Punch, the suspects were arrested at Akoto Estate, Elebu area in Ibadan, Oyo State.

The suspects were said to have been arrested during the early morning raid of the operatives of the commission on Wednesday, August 7, 2019. 

Punch reports that the EFCC operatives had earlier conducted a series of surveillance on the activities of the suspected Yahoo Boys.

The information gathered during he surveillance was found to be credible, leading to the sting operation.

Items recovered from the suspects include eight exotic cars, many costly phones and laptops and documents suspected to be used for their illicit dealings, Punch reports.

The suspects will be charged to court as soon as investigations are concluded.

Recall that in July, the Commission arrested five suspected cyber criminals in Barnawa, Kaduna State.

In a statement released on Wednesday, July 3, 2019, the agency said the suspects posed online, particularly on Facebook, as United States soldiers on peace keeping mission in Afghanistan.

Even though the suspects initially claimed to be bloggers and experts in the Bitcoin business, the EFCC said they've confessed to online fraud.