Four are from the Federal University of Technology Akure, (FUTA) and another from Adekunle Ajasin University, Akungba , (AAUA).
They were arrested at an Off- Campus residence located at Anuoluwapo Close, Stateline Hotel Road, off FUTA South Gate, Akure, Ondo.
A statement by the Head of Media and Publicity of EFCC, Mr. Wilson Uwujaren said
“ The fraudsters who are between 20 and 23 years of age include: Adeleke Paul (21), Adebiyi Tayo Abudu (22) , Akinsanmi Olusola Adeniyi (21), Ogundile Ademola James (23) and Okali Ugochukwu (21).
“The commission got wind of their activities through series of intelligence. Paul and his co-travelers, who go about with the name Tsunnami Gang and Young Pablo Money allegedly swindled unsuspecting foreigners and others to the tune of N16million recently.
“The suspected fraudsters engaged in fraudulent activities of obtaining money by false pretences through scam mails.
“Paul is a penultimate final year’s student of Building Technology while James and Olusola are both 400 level students of Agricultural Resources and Mathematics respectively.
“Okali is a 200 level student of Urban and Regional Planning, while Adebiyi Tayo is a 300 level Student of Mathematics of the Adekunle Ajasin University. Akungba, Ondo State.
“At the point of arrest, EFCC operatives recovered a 2006, black Toyota highlander with registration number(Lagos) LND 112 EG, 2010 light- green Toyota Camry (Muscle) registration number (Lagos) AAA 850 EF, laptops, three Apple iphone6 and three Blackberry phones from them.
“Some implicating documents were also found and downloaded from their laptops.
They are to be arraigned in court as soon as investigation is completed.”