EFCC Urges Youth to Shun ‘Yahoo-Yahoo’

The Economic and Financial Crimes Commission (EFCC) has blamed the actions of internet fraudsters and money launderers for the increasingly strict visa restrictions faced by Nigerians around the world.

This was disclosed in a statement on Tuesday by the Executive Chairman of the EFCC, Ola Olukoyede, who urged Nigerian youths, particularly those in the South-South region, to resist the temptation of online fraud and economic sabotage.

According to Olukoyede, financial crimes do not only cause economic damage to Nigeria but also tarnish the country’s global image, making it harder for law-abiding citizens to access opportunities abroad.

Internet Fraud and Its Impact on Nigeria’s Image

Olukoyede stressed that internet fraud, popularly called yahoo-yahoo, along with money laundering, drains billions of naira from the economy annually. These crimes, he said, undermine Nigeria’s growth by depriving citizens of essential infrastructure, jobs, and opportunities.

“Beyond the economic damage, these crimes erode Nigeria’s international image and subject innocent Nigerians to stricter visa restrictions abroad,” the statement read.

The EFCC boss called fraud a “deadly trap” that destroys lives and futures. He warned that the quick wealth promised by online scams often ends in arrests, imprisonment, and ruined reputations.

“Fraud is not a success; it is a trap. Easy come, easy go. Many who follow the path of yahoo-yahoo always end up losing their freedom, reputation, and future. The law is catching up with them, and digital footprints never disappear. Don’t destroy your tomorrow with shortcuts today,” Olukoyede advised.

EFCC Intensifies Anti-Fraud Campaigns

Olukoyede’s message was delivered at a sensitization event organized by the Coalition of Nigerian Youth on Security and Safety Affairs (CONYSSA). Represented by CSE Coker Oyegunle, Head of the Advance Fee Fraud Section at the Port Harcourt Zonal Directorate, he assured that the EFCC would continue to combine sensitization efforts, enforcement, and community collaboration to combat fraud and related crimes.

He encouraged youths to invest their creativity and skills in productive sectors such as digital innovation, entrepreneurship, agriculture, and the creative industries rather than fraudulent ventures.

Other speakers at the event echoed Olukoyede’s concerns.

• NDLEA’s Warning on Drug Abuse:
  Mathew Ewah, Assistant Commander General of Narcotics at the National Drug Law Enforcement Agency (NDLEA), warned that drug abuse remains a major threat to Nigeria’s youth population. He called it a social menace that turns many into “social misfits,” destabilizing families and communities.
• NSCDC’s Call to Protect Resources:
  Representing the Commander General of the Nigeria Security and Civil Defence Corps (NSCDC), Assistant Superintendent of Corps Kabiru Zakari condemned pipeline vandalism and oil theft, warning that these crimes cause oil spills that destroy creeks, farmland, and agricultural livelihoods. He urged youths to become community protectors rather than perpetrators of environmental damage.

Background: Tackling Immigration Fraud

This latest call follows the EFCC’s creation of a dedicated Immigration Fraud Section on August 1, 2024, to address the rising cases of immigration fraud linked to Nigerians. The initiative saw new units established in Lagos, Abuja, Port Harcourt, and Kano.

Olukoyede explained at the time that the move was urgent, given the growing number of fraudulent schemes targeting immigration systems, which had made many foreign governments tighten their visa requirements for Nigerian applicants.

With Tuesday’s renewed message, the EFCC appears set on strengthening its dual strategy of enforcement and education, punishing offenders while also dissuading vulnerable youths from falling into the lure of quick money.

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