Yahoo boys no longer just online scammers – Olukoyede

The Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, has said internet fraudsters, otherwise  known as “Yahoo boys,” are bringing  shame to Nigeria.

Speaking at a media briefing in Abuja, Olukoyede lamented that these young Nigerians have made it difficult for law-abiding citizens to travel abroad without being subjected to scrutiny by immigration officers.

According to Olukoyede, whenever Nigerians travel abroad with their green passports, they are often viewed with suspicion by immigration officers due to the actions of these internet fraudsters. He described this as a national shame, emphasizing that the activities of these “Yahoo boys” have given every Nigerian a bad image abroad.

The EFCC chairman revealed that these fraudsters have evolved beyond online scams, engaging in more serious crimes such as banditry, kidnapping, ritual Killings: engaging in human sacrifices and money laundering.

Olukoyede emphasized the need for Nigerians to look beyond the “Yahoo-boys” label and recognise the severity of their crimes. He cited a recent case where a 22-year-old fraudster had a turnover of over N5 billion within 18 months, laundering money for politically exposed individuals. The EFCC chairman questioned the kind of nation Nigeria would become if such individuals were allowed to thrive.