The Economic and Financial Crimes Commission (EFCC) has blamed the surge in internet fraud on laziness, greed, and peer pressure among Nigerian youths, warning that the quest for quick riches is destroying lives and reputations.
EFCC Chairman Ola Olukoyede made the remarks during an orientation program for new students at the Air Force Institute of Technology (AFIT) in Kaduna on Monday.
Represented by Chief Superintendent Nana Fatima Abubakar, Olukoyede urged youths to reject cybercrime and embrace hard work, integrity, and ethical standards as the true paths to success.
“There is no shortcut to wealth,” he said. “The desire to get rich quickly often leads to loss of freedom, damaged reputation, depression, and in extreme cases, untimely death.”
He noted that many young Nigerians now combine internet fraud with. drug abuse and criminal fetish practices, driven by greed and a lack of patriotism.
While acknowledging that youths dominate cybercrime, Olukoyede encouraged them to use the internet positively for legitimate income, such as freelancing, content creation, or e-commerce.
He also urged students to report fraud anonymously via the EFCC Eagle Eye App to support the fight against corruption.
The EFCC, established in 2003 under former President Olusegun Obasanjo, continues to intensify efforts to curb financial crimes, including the rising wave of online scams.
