Items recovered from the suspects, Ale Daniel, Tunde Badmus, Adams Tunde Adedeji and Ajiboye Gbenga, include an array of luxurious cars such as a Benz, Range Rover and magical charm.
They were apprehended on Saturday, April 7, 2018, in Lekki, Lagos.
"Suspected yahoo-yahoo boys arrested by the EFCC Lagos office in the Lekki area of the state for their alleged involvement in cybercrime and money laundering activities.
"Charms were part of the items recovered from them," a tweet shared on Wednesday, April 11, 2018, via EFCC's Twitter reads.
Pictures circulating online media showed the quartet take position in front of their respective vehicles.
Suspects are expected to be arraigned as soon as the EFCC concludes investigation.
In Calabar, Cross River State, the police have arrested three Yahoo boys who reportedly use 'Juju' charm to rob their victims.
State police commissioner, Mr. Hafiz Inuwa, confirmed the report while parading the suspects identified as Chukwuemeka Ahunanya, 22; Francis Ugochukwu, 25; and Emmanuel Chukwuma, 25.
Some fetish items were recovered from the fraudsters following earlier investigations.
“On February 23, 2018, at about 0940hours, the following suspects were arrested in the Akpabuyo Local Government Area on a tip-off. They are Chukwuemeka Ahunanya, Francis Ugochukwu, and Emmanuel Chukwuma.
“During interrogation, the suspects confessed to belonging to an Internet fraud group also known as yahoo boys.
"They used charms to defraud and dispossess unsuspecting members of the public of their hard-earned money and other valuables. Some charms were recovered from them during the search," the police chief Inuwa told Punch News.
One of the suspects, Ahunanya who spoke on behalf of his team insisted that the group recently introduced the use of charms into the online fraud business.
According to him, his colleagues were in the process of perfecting the 'juju' when they were nabbed.
Their activities is one of a list of viral cases that have gained the attention of the public.