NEWS
Yahoo Boys Are A National Embarrassment – EFCC Chairman Olukoyede

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has condemned the activities of internet fraudsters, popularly known as yahoo boys, calling them a national disgrace responsible for damaging Nigeria’s global image and fueling serious security threats.
Speaking during a media briefing at the EFCC headquarters in Abuja on Monday, Olukoyede said the reputation of Nigerian passport holders is now under constant suspicion abroad due to the crimes of cyber fraudsters.
“We are dealing with a serious crisis,” he stated. “When you travel abroad with a Nigerian passport, immigration officers often treat you with suspicion or subject you to special scrutiny. That’s a national shame caused by some young Nigerians involved in yahoo-yahoo.”
He warned that internet fraud among youths has grown into a far more dangerous trend, evolving from simple email scams into organized financial crime. According to him, many are now involved in money laundering, kidnapping, ritual killings, and serve as conduits for corrupt politicians.
“Some of these guys are into banditry and kidnapping when they can’t find victims to scam. Others launder money for politically exposed persons. It’s no longer just yahoo-yahoo—it’s organized crime,” he said.
Olukoyede revealed that politicians increasingly rely on internet fraudsters to move stolen public funds through crypto wallets, luxury purchases, and offshore accounts.
“When they steal billions, they hand it over to these boys. They use crypto wallets to transfer the money abroad and buy cars, houses, and other luxury items,” he explained.
Citing a specific case, he mentioned a 22-year-old with no legitimate source of income who moved over ₦5 billion in just 18 months, allegedly working for powerful individuals.
“You now see secondary school students driving luxury cars. Are these the people we want to entrust Nigeria’s future to?” he asked. “Is this the kind of nation we’re building?”
Olukoyede urged Nigerians to stop glorifying online fraud and instead understand its broader threat to national security and economic stability.
Highlighting the EFCC’s recent achievements, he disclosed that in 2024 alone, the commission recovered over ₦365.4 billion and secured 4,111 convictions.
At a retreat for EFCC directors in Uyo, Akwa Ibom State, he praised the agency’s dedicated workforce and vowed to exceed these results in 2025.
“The EFCC’s staff remain a committed and disciplined team of professionals. We will build on this success and go even further next year,” Olukoyede said.
Discover more from Naijanewstoday
Subscribe to get the latest posts sent to your email.
-
POLITICS5 days ago
C-Sagas UK Chapter Meets Founder in London, Reaffirms Humanitarian Vision
-
TECH7 days ago
OpenAI CEO Sam Altman Warns ChatGPT Conversations Aren’t Legally Confidential
-
NEWS5 days ago
Ikwo Noyo Clan Releases Official Timetable for 2025 Nnesweoha Festival
-
ENTERTAINMENT4 days ago
VeryDarkMan Breaks Down in Tears as He Announces Death of Popular Fish Seller
-
NEWS5 days ago
Nigerian Youth Advocate Calls Out Facebook’s Monetisation Policies
-
CAMPUS REPORTS6 days ago
VC Inaugurates Two New Residential Flats Built by AE-FUNAI Parents’ Forum
-
CAMPUS REPORTS5 days ago
Experts Urge Responsible AI And Data Use at AE-FUNAI Law Conference
-
POLITICS4 days ago
2027 Elections: We’re the Only Viable Alternative to APC, PDP Slams ADC
-
CAMPUS REPORTS6 days ago
AE-FUNAI Hosts ACSPN, Highlights Role of Artificial Intelligence in Media and Security
-
SPORTS7 days ago
Asisat Oshoala Shuts Down Retirement Rumors After WAFCON Triumph
-
NEWS6 days ago
David Umahi’s Daughter Kimberly Graduates With First Class
-
SPORTS4 days ago
Morocco Challenges Referee Call After Super Falcons’ WAFCON Triumph