The development took place yesterday night at Abeokuta, Ogun State capital.
According to the Commission who disclose the development on it official Facebook page says that the award was organise to confer title to the high level yahoo boy.
The commission said:
The event tagged “Peer Youths Awards”, investigation revealed, was organized to reward high-level internet fraudsters.
Items recovered from the suspects at the point of arrest include exotic cars, electronic devices, laptop computers and mobile phones. The suspects will soon be charged to court.