The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised alarm over the evolving activities of internet fraudsters, popularly known as Yahoo Yahoo boys. He disclosed that their crimes have gone beyond online scams and now include kidnapping, ritual killings, and arms trafficking.
Olukoyede made this revelation on Thursday, February 13, 2025, during a meeting with The Punch management at the EFCC headquarters in Abuja. He also revealed that Nigeria lost over $500 million to internet fraud in just one year.
“It’s no longer just about online scams,” he said. “Some of these fraudsters are now involved in kidnapping and ritual killings. Investigations have uncovered horrifying cases where victims, especially young women, were used for rituals. If we don’t act fast, in the next 10 years, we may not have a generation to hand this country over to.”
The EFCC boss defended the agency’s crackdown on internet fraudsters, revealing that in 2024 alone, the commission received over 11,000 petitions, investigated nearly 9,000 cases, and prosecuted close to 5,000 individuals despite limited resources.
Fighting Corruption from Within
Olukoyede also addressed concerns about corruption within the EFCC, stating that 27 staff members had been dismissed over corruption allegations in the past year.
“You can’t fight corruption while being corrupt yourself,” he said. “I have publicly challenged anyone to prove that I have ever collected a bribe. Integrity is key, and we must lead by example.”
Call for Media Support in Anti-Corruption Fight
Olukoyede urged journalists to be more proactive in exposing corruption and supporting the EFCC’s work. He emphasized that investigative journalism was instrumental in uncovering financial crimes even before the EFCC was established.
“The media played a crucial role in exposing corruption in the early 2000s. We need that partnership again, where law enforcement and the press work together to protect Nigeria,” he stated.
The EFCC Chairman’s Chief of Staff, Michael Nzekwe, also commended the media for its role in public sensitization, urging for greater collaboration in shaping public perception of the anti-corruption fight.
“The fight against corruption is for the good of all Nigerians, not just the EFCC,” Nzekwe added.
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