Yahoo Boys Have Damaged Nigeria’s Image Globally – EFCC Boss
Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has decried the damage internet fraudsters, popularly called Yahoo-Yahoo boys, are doing to Nigeria’s image globally.
Speaking during a media briefing on Monday at the EFCC headquarters in Abuja, Olukoyede said the actions of these fraudsters have made Nigerians targets of suspicion at foreign borders.
He said, “If you travel abroad with your green passport and stand in a queue, immigration officers look at you with suspicion. Sometimes, they pull you aside for extra scrutiny. That is a national shame these young Yahoo-Yahoo boys have caused us.”
Olukoyede, who said he often interacts with his counterparts overseas in tracing stolen assets, added that many now find it hard to believe in hard work.
He said, “We recently arrested some of them. They are destroying our values. I’m from a state where education is pride. Now, if you visit my secondary school, by noon, students are no longer in school.”
The EFCC boss also warned that these cybercriminals are now branching into more dangerous crimes, including banditry, kidnapping, and money laundering for politically exposed persons.
“Some of these fraudsters resort to kidnapping when scams fail. Many launder money for politicians. They open crypto wallets and help transfer looted funds abroad,” he said.
He narrated a case where a 22-year-old suspect, who has never worked a day in his life, handled over N5 billion in 18 months. “He was laundering stolen public funds. They now buy cars, houses abroad with this money,” Olukoyede added.
He also warned against dismissing them as just internet scammers, stating that many are involved in ritual killings and use secondary school students for cybercrime operations.
“Is that the kind of generation we want to hand Nigeria over to?” he queried.
Olukoyede revealed that since assuming office, the EFCC has recovered over N365.4 billion and secured 4,111 convictions in 2024 alone.
He made this known during a retreat in Uyo, Akwa Ibom, with the theme EFCC: The Journey So Far, Ensuring Professionalism and Integrity.
He commended the commitment and sacrifice of his team and vowed to surpass the records in 2025, while urging staff to uphold professionalism and integrity in the fight against corruption.
Titilope Adako is a talented and intrepid journalist, dedicated to shedding light on the untold stories of Osun State and Nigeria. Through incisive reporting, she tackles a broad spectrum of topics, from politics and social justice to culture and entertainment, with a commitment to accuracy, empathy, and inspiring positive change.
