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Five of those arrested are undergraduate students of various academic institutions.
EFCC revealed the identity of the students and their institutions.
They are Sunkanmi Odewale, of Olabisi Onabanjo University, Olowofola Tolu and Ekundayo Damilola of Lead City University, Adelabu Kolawole, of Ibadan Polytechnic, and Bankole Oluwaseyi Fisayo of Osun State Polytechnic.
The four non-students are Okewole Adesesan, Emmanuel Ubaman, Fisayo Ajibola and Oyebisi Femi.
According to the EFCC, the nine suspects defrauded their victims using internet scams and were operating from different locations.
The law enforcement officers confiscated several items from the suspects including eight laptops, one mini-laptop, two iPads, two Honda cars and two Toyotas.
Speaking on behalf of the EFCC, the commission’s spokesperson, Wilson Uwujaren, said they are still carrying out investigations and upon completion, the suspects will be brought before the court.