Nigerian authorities have arrested 50 suspected internet fraudsters, nearly all of them students of Kwara State University in the west.

The Economic and Financial Crimes Commission (EFCC) said in a statement on Thursday that the 48 students and two others were arrested in their various hideouts following days of surveillance.

It said it recovered “nine exotic cars, 24 laptops and different brands of phones” from the suspects, who are said to have been living a lavish lifestyle.

The agency is also quoted by local media as saying that they “swung into action to free the state of corruption and other nefarious activities of ‘yahoo-yahoo boys'”, referring to the name given to online fraudsters.

The agency has posted on social media pictures of the suspects as well as the impounded items.

The suspects will soon be arraigned in court upon conclusion of investigations, the EFCC said.