EFCC nabs Yahoo Boy over alleged laundering of N481m

By Paul Dada

The Economic and Financial Crimes Commission, EFCC, says it has traced  money laundering activities in excess of $300,000 (three hundred thousand United States Dollars) to a suspected internet fraudster.

The amount is worth N481,937,232.00 (four hundred and eighty one million, nine hundred and thirty seven thousand, two hundred and thirty two naira).

A statement by the EFCC says, “The suspect was among the 35, picked up on Sunday, May 4, 2025 in Sabo Iyako area of Auchi, Edo State by the Commission, following credible intelligence that linked them to fraudulent internet activities.

“As a “picker” or “azaman” in internet fraud lingo, investigations revealed that the suspect has collected and laundered over $300,000 (Three Hundred Thousand United States Dollars) for his syndicate members who are at large. Apart from internet fraud, EFCC’s investigations revealed that the suspect is equally involved in investment and banking fraud.”

The anti-graft agency adds that he will be charged to court as soon as investigation is concluded.