The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the expanding criminal activities of internet fraudsters, commonly known as Yahoo Yahoo boys. Speaking on Thursday, February 13, 2025, during a meeting with The Punch management at the EFCC headquarters in Abuja, Olukoyede revealed that these fraudsters have moved beyond online scams to more severe crimes such as kidnapping, ritual killings, and arms trafficking.
According to Olukoyede, Nigeria suffered losses exceeding $500 million due to internet fraud within the past year. He highlighted the EFCC’s extensive efforts, stating, “In 2024 alone, we received over 11,000 petitions, investigated nearly 9,000 cases, and secured close to 5,000 convictions despite limited resources. Some criticize our focus on Yahoo Yahoo boys, but they fail to grasp the magnitude of these crimes.”
He further revealed chilling details from recent investigations, which exposed the involvement of internet fraudsters in violent crimes, including ritual killings of young women. “This is no longer just about online scams. Many are now involved in banditry, kidnapping, and human rituals. If we don’t act decisively, the future of our nation could be at serious risk,” he warned.
Olukoyede also emphasized his commitment to cleaning up corruption within the EFCC, disclosing that 27 staff members were dismissed in the past year due to corruption-related offenses. “You cannot fight corruption while being corrupt. I have openly challenged anyone with evidence of me collecting bribes to come forward. Integrity is non-negotiable in this battle,” he declared.
The EFCC Chairman called on the media to play a more significant role in shaping public understanding of the commission’s efforts. He urged journalists to engage in investigative reporting that exposes corruption while also highlighting the EFCC’s achievements. “The media has always been crucial in the anti-corruption fight. Before the EFCC’s creation in the early 2000s, it was journalists who uncovered many financial crimes. We need to return to that era of collaboration to protect our nation,” he stated.
Echoing Olukoyede’s sentiments, the EFCC Chief of Staff, Michael Nzekwe, commended the media’s contributions to public awareness and advocacy against corruption. He called for stronger cooperation, emphasizing that the anti-corruption struggle benefits every Nigerian. “The media is a vital partner in this fight. Your advocacy has been instrumental in sustaining the anti-corruption movement. We urge you to continue supporting our mission with understanding and fairness,” Nzekwe added.