Yahoo boys are a national shame — EFCC boss

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has described internet fraudsters, popularly known as yahoo boys, as a national embarrassment, blaming them for damaging Nigeria’s international image and fueling deeper security threats.

Speaking during a media briefing at the EFCC headquarters in Abuja on Monday, Olukoyede lamented that the activities of these fraudsters have led to Nigerian passport holders being treated with suspicion and subjected to extra scrutiny at foreign borders.

“I want Nigerians to know that we are having a crisis on our hands,” the anti-graft chief said. “If you travel abroad with your green passport, immigration officers look at you with reservation. That is, if they don’t take you aside for special scrutiny. That is a national shame that some young Nigerians—yahoo-yahoo boys—have caused for us.”

Olukoyede warned that cyber fraud among Nigerian youths has evolved beyond email scams, noting that many are now involved in more dangerous criminal activities such as money laundering, kidnapping, and even ritual killings.

According to him, “Some of these guys are into banditry and kidnapping. When they don’t find people to scam, they resort to these vices. Some of them launder money for politically exposed persons. It’s no longer just yahoo-yahoo—it’s organized financial crime.”

The EFCC chairman revealed that politically connected individuals now use internet fraudsters as tools for laundering stolen public funds, often through crypto wallets and foreign asset purchases.

“When they [politicians] steal money in billions, they give it to these boys. They open crypto wallets, move the money abroad, and use it to buy cars, houses, and luxury items,” he said.

Olukoyede cited the case of a 22-year-old suspect with no legitimate employment history who had a financial turnover of over ₦5 billion within 18 months, allegedly laundering money for high-ranking individuals.

“You see secondary school students driving expensive vehicles. Are those the people we want to hand Nigeria over to?” he asked. “Is that the nation we want to build?”

He urged Nigerians to look beyond the surface of internet fraud and recognize the wider implications it poses for national security and economic stability.

Meanwhile, the EFCC boss noted the agency’s achievements since his assumption of office, stating that in 2024 alone, the commission recovered over ₦365.4 billion and secured 4,111 convictions.

Speaking at a recent retreat for EFCC directors in Uyo, Akwa Ibom State, Olukoyede attributed the agency’s success to the dedication and discipline of its staff and pledged to surpass the 2024 records in 2025.

“The EFCC’s workforce will continue to be a critical mass of honest, highly motivated and effective professionals,” he stated.

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