The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the growing threat posed by internet fraudsters, popularly known as “Yahoo boys,” stating that their criminal activities now extend beyond cyber fraud to include ritual killings, kidnapping, and banditry.
Speaking on Thursday at the EFCC’s corporate headquarters in Abuja while receiving the management team of The PUNCH, Olukoyede disclosed that Nigeria lost over $500 million in one year due to internet fraud. He warned that online scams have evolved into more violent and dangerous crimes, including arms trafficking and human sacrifices.
“We are actively tackling this issue. Last year alone, we received over 11,000 petitions, investigated nearly 9,000 cases, and prosecuted close to 5,000 offenders despite our limited manpower. Some people criticize our focus on Yahoo boys, but they fail to grasp the severity of the situation,” he said.
According to Olukoyede, some investigations have uncovered shocking cases where young female victims were used for ritual purposes. He stressed that without decisive action, the future of Nigeria’s youth could be in jeopardy.
“If we don’t act now, in the next 10 years, we may not have a generation we can confidently entrust with the future of this country,” he warned.
EFCC’s Internal Cleansing Efforts
In a bid to strengthen the commission’s integrity, Olukoyede revealed that 27 EFCC officials were dismissed in the past year over corruption allegations.
“You cannot fight corruption while being corrupt yourself. I have openly challenged anyone to present evidence that I have ever accepted bribes. Integrity is the foundation of this fight, and we must lead by example,” he emphasized.
Media’s Role in the Anti-Corruption Fight
Olukoyede urged the media to actively support the EFCC’s efforts by engaging in investigative journalism that exposes corruption and highlights the commission’s achievements.
“The media has always been a vital partner in the fight against corruption. Before the EFCC was established, journalists were at the forefront of exposing financial crimes. We need to revive that collaboration to protect Nigeria,” he stated.
Michael Nzekwe, the Chief of Staff to the EFCC Chairman, echoed this sentiment, acknowledging the media’s role in raising awareness and shaping public perception.
“The media is a crucial ally in this battle. Your advocacy helps sustain the anti-corruption movement in Nigeria. We seek greater understanding and collaboration in how our work is reported because this fight benefits all Nigerians, not just the EFCC,” Nzekwe said.
