The Economic and Financial Crimes Commission (EFCC) has again raised alarm over the damage internet fraudsters, popularly called yahoo boys, are doing to Nigeria’s global reputation – and the very future of the country’s young people.
Speaking in Port Harcourt at a youth security summit, EFCC Chairman Ola Olukoyede, represented by Chief Superintendent CSE Coker Oyegunle, linked the wave of cyber fraud to the harsher visa policies Nigerians now face abroad.
“Beyond the financial damage, these crimes are dragging Nigeria’s name through the mud and forcing innocent citizens to suffer more stringent visa restrictions,” the Commission warned in its statement.
Olukoyede stressed that cybercrime, money laundering and economic sabotage were bleeding the economy of billions, blocking opportunities, and slowing down national growth. He urged youths to channel their energy into entrepreneurship, agriculture, innovation and the creative sector rather than resorting to fraud.
“Fraud is not success; it is a trap. Easy come, easy go. Many who embrace yahoo-yahoo end up losing their freedom, reputation and future. The law is catching up with them, and digital footprints never vanish. Don’t destroy your tomorrow with shortcuts today,” he cautioned.
The EFCC boss promised more awareness campaigns, stricter enforcement and stronger community collaboration to combat the menace.
Also present at the event, the National Drug Law Enforcement Agency (NDLEA) warned that drug abuse is still ravaging Nigerian youths, while the Nigeria Security and Civil Defence Corps (NSCDC) raised concerns over pipeline vandalism in the South-South.
The EFCC has intensified its crackdown in recent months. In August, 38 suspected internet fraudsters were rounded up in Ikorodu after surveillance operations, with cars, phones and narcotics recovered. Earlier in July, the United States slashed the validity of some Nigerian visas – including business, tourism, student and exchange categories – limiting them to just three months and single entry.
