Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised serious concerns over the growing criminal network of Nigerian internet fraudsters, popularly known as ‘Yahoo-Yahoo boys’.
In a video interview released by the commission on Monday, Olukoyede revealed that these fraudsters are not only involved in online scams but are now deeply entrenched in other violent and organized criminal activities, including kidnapping, banditry, and money laundering for high-profile political figures.
Speaking on the gravity of the situation, the EFCC boss described the Yahoo-Yahoo phenomenon as a deepening national crisis that has cast a shadow of shame over the country both locally and globally.
“Let me tell you the most dangerous aspects of it. It is not just about Yahoo-Yahoo. Nigerians should know this: these guys, some of them, are into banditry. We have proof and evidence. Some are into kidnapping. When they don’t see people to scam on time, they go into kidnapping. Some of them launder money for politically exposed persons,” he said.
Olukoyede pointed to recent EFCC operations that led to the arrest of over 120 young Nigerians as evidence of the scale of the problem. He lamented the widespread disregard for honest work among youths, noting that many now view cybercrime as a legitimate path to wealth and status.
According to him, the EFCC’s efforts to dismantle the Yahoo-Yahoo ecosystem will persist, regardless of the criticism, because of the broader threat it poses to national security and the country’s global image.
“The menace of ‘Yahoo-Yahoo boyz’ is a national shame that some young Nigerians have placed on the country locally and internationally,” Olukoyede added.
He emphasized that internet fraud is no longer a standalone vice, but one that is fueling other dangerous crimes across the country, making the fight against it more urgent and critical than ever.
What you should know
EFCC Chairman Ola Olukoyede has warned that internet fraud, popularly called Yahoo-Yahoo, has evolved into a more dangerous threat.
Beyond online scams, many Yahoo boys are allegedly involved in banditry, kidnapping, and laundering money for politically exposed individuals. He cited recent arrests of over 120 youths and called the trend a national embarrassment that damages Nigeria’s image globally.
According to him, some fraudsters resort to violent crime when scams fail, further fueling insecurity. Olukoyede insists the EFCC will not relent in its crackdown as the Yahoo-Yahoo menace now threatens both national security and youth morality.
