The agency said their arrest was triggered by intelligence reports detailing their alleged involvement in internet fraud and other related offenses.
The suspects were identified as Kayode Adeoye, Ogunleye Yemi, Adio Taheed, Olaniyi Joshua, and AbdulAfeez Kehinde.
Others are: Bakare Omolayo, Adesuntola Adebayo, Ridwan Gbolahan, Abdulfatai Waliu, Olayiwola Olamilekan, Raji Wasiu, Olawale Ibrahim and Tajudeen Mojeed.
Four cars, Phones, Laptops, and other incriminating documents used in perpetrating the crime were recovered from them, the agency said.
The suspects are all expected to be charged to court as soon as investigations are concluded.