The International Criminal Police Organisation (Interpol) says it has arrested 300 suspected Black Axe members.
The suspects were arrested in 21 countries between April and July 2024 during Operation Jackal III.
Black Axe has developed a dreadful reputation in Nigeria over the years, leaving a trail of killings and criminal activities in its wake.
Many of its members are recruited while in university.
BBC quoted Tomonobu Kaya, a senior official at Interpol’s Financial Crime and Anti-Corruption Centre, as saying that the operation dealt a “major blow” to the criminal enterprise.
Kaya said the group has been linked to a number of multi-million dollar online scams.
“They are very organised and very structured,” he said.
“These criminal syndicates are early adopters of new technologies. A lot of fintech developments make it really easy to illegally move money around the world.
“We need to have data and to collate our findings from these countries to help build a picture of their modus operandi.”
The broadcaster said Operation Jackal III led to seizure of $3 million of illegal assets and the freezing of more than 700 bank accounts linked to members of the group.
Despite a series of crackdowns, Black Axe has managed to continue in its criminal activities.
