The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised alarm over the growing involvement of secondary school students in internet fraud, describing the trend as a national crisis threatening Nigeria’s future.
Speaking in a recent interview with TVC, Olukoyede revealed disturbing patterns of criminal behavior among young Nigerians, citing a recent mass arrest operation. “I want to tell Nigerians that this Yahoo-Yahoo thing we are talking about is a crisis,” Olukoyede stated. “Just two days ago, we arrested over 120 Nigerians who are young men; people don’t believe in hard work anymore.”
The EFCC chairman expressed particular concern about the situation in his home state, where education traditionally held pride of place. He painted a grim picture of academic institutions losing students to criminal activities. “I’m from a state where education is our pride; I’m from a state where the major enterprise we have is education,” he explained. “If you go to the secondary school that I attended now, by 12 noon, the students have left school. You see secondary school students in hotels; they are in groups trying to scam people. You see them driving big cars in the city.”
Olukoyede questioned whether such individuals represent the future leadership Nigeria desires, asking: “Is that the people that we want to hand over Nigeria to? Is that the nature we want to build?”
The anti-corruption chief warned that the problem extends far beyond simple internet fraud, revealing connections to more serious crimes. “Let me tell you, the most dangerous aspect of it. It’s not just about Yahoo-Yahoo, and Nigerians should know this,” Olukoyede emphasized. “Some of these guys are into banditry; we have evidence, and we have proofs to do that. Some of them are into kidnapping. Because when they know they don’t see people to scam on time, they go into kidnap.”
The EFCC chairman also disclosed how young fraudsters have become instrumental in sophisticated money laundering operations for corrupt politicians. “Some of them now launder money for the politically exposed persons,” he revealed. “So, don’t just see them as yahoo boys anymore. The traditional way of stealing money is no longer applicable. When they steal government money in billions now, they give it to all these boys. They open a cryptocurrency wallet, and they put the money there. From there, the money goes abroad. They can buy a house, you can buy vehicles, and buy anything with your bitcoin.
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