EFCC Chairman Decries Damage to Nigeria’s Image by Internet Fraudsters

 

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has expressed deep concern over the worsening impact of cybercrime on Nigeria’s global reputation, particularly due to the activities of internet fraudsters popularly known as “Yahoo boys.”

In an exclusive interview on Sunday, Olukoyede stated that the commission has observed a disturbing trend in the operations of these cybercriminals, warning that their crimes now go far beyond petty fraud.

“Yahoo boys have destroyed the image of Nigeria abroad,” the EFCC Chairman said. “It is no longer just mere fraud. Many of them are now laundering money for politically exposed persons. We’re seeing clear cases where stolen public funds are being routed through these criminal networks to avoid detection.

He further revealed that EFCC investigations have uncovered complex laundering operations where proceeds of corruption are moved through layers of cybercrime syndicates, making it more difficult to trace the source.

Olukoyede also lamented the rise of ritualistic practices among some internet fraudsters, saying that the agency has received multiple reports and evidence linking these individuals to ritual killings, often involving young women.

“Some of these young men now engage in ritual practices—what is popularly known as ‘Yahoo Plus.’ They believe these acts will give them more spiritual power to deceive or manipulate their victims. It’s a deeply troubling moral decline,” he said.

He noted with concern that the glorification of fraudulent lifestyles has fueled a culture of impatience and disdain for hard work among Nigerian youths.

“There’s now a dangerous mindset that hard work no longer pays. Social media is flooded with images of luxury, flashy cars, and expensive lifestyles—all funded by crime. It is misleading a generation,” Olukoyede said.

The EFCC Chairman called on parents, religious leaders, educational institutions, and the media to help reverse the trend by promoting values of integrity, discipline, and honest labor. He also reiterated the commission’s resolve to continue pursuing and prosecuting cybercriminals, regardless of their status or connections.

“We will not back down. Every day, our operatives are arresting, investigating, and prosecuting these fraudsters. But it’s not just a legal fight—it’s a cultural one too. Nigeria’s image is on the line.”

The EFCC has ramped up its public awareness campaigns, particularly targeting secondary schools, universities, and online platforms to educate the youth on the consequences of cybercrime and financial fraud.

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