The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has decried the damaging impact of internet fraudsters, commonly referred to as Yahoo-Yahoo boys, on Nigeria’s international reputation.
Speaking during a press briefing at the EFCC headquarters in Abuja on Monday, Olukoyede lamented that these fraudsters have made Nigerians objects of suspicion across global immigration points.
“When you present your green passport abroad, immigration officers look at you with reservation or subject you to special scrutiny. That is a national shame caused by some of these young Nigerians,” he said.
Olukoyede warned that the activities of Yahoo boys have escalated beyond online scams to include banditry, kidnapping, ritual killings, and money laundering for politically exposed persons.
“They don’t just scam anymore. When they can’t get victims online, they resort to kidnapping and banditry. Some launder billions for politicians using crypto wallets, helping them move stolen funds abroad to buy luxury items,” he stated.
The EFCC boss also cited the shocking case of a 22-year-old suspect with a turnover of over ₦5 billion in 18 months, allegedly used by political figures to launder illicit funds.
He stressed that such developments threaten the future of the country, asking rhetorically:
“Are these the kinds of people we want to hand Nigeria over to? Is this the nation we want to build?”
Highlighting the agency’s achievements under his leadership, Olukoyede noted that ₦365.4 billion had been recovered and 4,111 convictions secured in 2024 alone, pledging to surpass these records in 2025 through professionalism, integrity, and staff dedication.
