The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has stated that internet fraudsters popularly known as ‘yahoo boys,’ now engage in banditry, ritual killings.
He revealed this at the agency’s headquarters in Abuja, on Thursday, February 13.
Olukoyede, defended the commission’s ongoing crackdown on internet fraudsters, commonly known as ‘Yahoo Yahoo boys,’ despite facing criticism from some sectors.
He emphasized that the activities of internet fraudsters had evolved beyond online scams, warning that they were now involved in more severe crimes, including kidnapping, ritual killings, and arms trafficking.
He also revealed that the country lost over $500 million in just one year due to internet fraud.
Olukoyede said, “We are doing the work. Last year alone, we had over 11,000 petitions, investigated close to 9,000, and prosecuted nearly 5,000 cases despite our limited manpower.
“Some people criticise us for going after Yahoo Yahoo boys, but they don’t understand the severity of the crime.
“It is no longer just about scamming people. They are now into kidnapping, banditry, and ritual killings.
“Some of our investigations have uncovered horrifying details, including cases where young female victims were used for rituals.
“If we don’t act decisively, in the next 10 years, we may not have a generation we can confidently hand over this country to.”
He also highlighted the EFCC’s dedication to internal reform, disclosing that 27 staff members had been dismissed in the past year due to corruption accusations.
Adding that, “You cannot be fighting corruption and be corrupt yourself.
“I have publicly challenged anyone to come forward with evidence that I have collected bribes in my years of service.
“Integrity is key in this fight, and we must lead by example.”
The EFCC chairman called on the media to take a more proactive role in influencing public opinion about the commission’s efforts, advocating for investigative journalism that focuses on both corruption and the agency’s successes.
He further stated that, “The media has always been a key player in the anti-corruption fight.
“In the early 2000s, before the EFCC was established, it was journalists who exposed many financial crimes.
“We need to return to that era where the media and law enforcement work together to protect the country.”
Michael Nzekwe, the Chief of Staff to the EFCC Chairman, commended the media’s role in raising awareness and advocating for change, urging for increased collaboration.
He said, “The media is a critical partner in this fight. The advocacy and awareness you create have helped sustain the anti-corruption movement in Nigeria.
“We ask for even more understanding in the way our work is reported.
“The fight against corruption is for the good of all Nigerians, not just the EFCC.”
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