The suspects, ranging between the ages of 21 and 30, were apprehended at different locations at the Airport Road, Alakia Area of Ibadan, the Oyo State capital.
Following series of complaints from neighbours and victims of their alleged fraudulent activities, operatives of the Commission stormed their hideout in the early hours of Wednesday to effect their arrest.
The suspects include, Abdulmumini Fatai, Hazzan Azeez Junior, Adeleke Oluwaseyi, Atolagbe Dami Timileyin and Emmanuel Oluwaseun.
Others are Kehinde Ridwan, Alarape Sodiq, Ahmed Mufutau, and Quadri Opeyemi.
Items recovered from them, include laptops, different models of iPhones, other brands of mobile phones and several fraudulent documents suspected to be used to defraud unsuspecting people.
Further investigation is ongoing, as well as subjecting the items and documents recovered to forensic analysis.
They will soon be charged to court.