EFCC Chief Defends Crackdown on Yahoo Boys Amid Rising Crime Wave
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has firmly defended the commission’s intensified crackdown on internet fraudsters, commonly known as Yahoo Yahoo boys, in the face of mounting criticism. Speaking on Thursday at the EFCC’s headquarters in Abuja during a visit by the management of The PUNCH, Olukoyede disclosed that Nigeria lost over $500 million to internet fraud in just one year.
Olukoyede stressed that internet fraud has evolved into a more sinister menace, linking fraudsters to violent crimes such as kidnapping, ritual killings, and arms trafficking.
“We are doing the work. Last year alone, we received over 11,000 petitions, investigated close to 9,000, and prosecuted nearly 5,000 cases despite our limited manpower,” Olukoyede said. “Some people criticise us for going after Yahoo Yahoo boys, but they don’t understand the severity of the crime.”
He elaborated on the dangers posed by these fraudsters, revealing disturbing details from the EFCC’s investigations.
“It is no longer just about scamming people. They are now into kidnapping, banditry, and ritual killings. Some of our investigations have uncovered horrifying details, including cases where young female victims were used for rituals. If we don’t act decisively, in the next 10 years, we may not have a generation we can confidently hand over this country to,” Olukoyede warned.
Beyond tackling external threats, Olukoyede highlighted the EFCC’s internal efforts to root out corruption within its ranks. He revealed that 27 staff members had been dismissed over corruption allegations in the past year.
“You cannot be fighting corruption and be corrupt yourself. I have publicly challenged anyone to come forward with evidence that I have collected bribes in my years of service. Integrity is key in this fight, and we must lead by example,” he asserted.
Olukoyede also called on the media to play a more active role in shaping public perception of the EFCC’s work. He emphasized the need for investigative journalism to expose financial crimes and highlight the commission’s successes.
“The media has always been a key player in the anti-corruption fight. In the early 2000s, before the EFCC was established, it was journalists who exposed many financial crimes. We need to return to that era where the media and law enforcement work together to protect the country,” he said.
The EFCC Chairman’s Chief of Staff, Michael Nzekwe, also praised the media’s role in advocacy and sensitization, calling for deeper collaboration.
“The media is a critical partner in this fight. The advocacy and awareness you create have helped sustain the anti-corruption movement in Nigeria. We ask for even more understanding in the way our work is reported. The fight against corruption is for the good of all Nigerians, not just the EFCC,” Nzekwe said.
As the EFCC intensifies its crackdown, Olukoyede’s clarion call to action serves as a reminder of the stakes involved in Nigeria’s ongoing battle against internet fraud and corruption.