The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised alarm over the damage internet fraudsters, popularly known as Yahoo boys, are causing to Nigeria’s global reputation and internal security. Speaking at a media briefing on Monday at the EFCC headquarters in Abuja, Olukoyede described their activities as a national shame, lamenting that Nigerians now face suspicion at international borders due to the crimes of these fraudsters.

Olukoyede revealed that beyond cybercrime, many of the fraudsters are involved in banditry, kidnapping, ritual killings, and laundering stolen public funds for politically exposed persons. He cited an example of a 22-year-old suspect with a turnover of over ₦5 billion within 18 months, allegedly laundering money for corrupt officials. “They open crypto wallets and move the stolen billions abroad to buy luxury properties,” he said.

The EFCC boss also decried the growing culture of glorifying fraud among the youth, warning that the country’s future is at stake. He called on Nigerians to see the issue beyond mere internet fraud, stressing its links to wider crimes threatening national security.

Meanwhile, Olukoyede highlighted the agency’s achievements, noting that in 2024 alone, the EFCC secured 4,111 convictions and recovered over ₦365.4 billion. He attributed this to the dedication of staff and pledged greater professionalism and integrity in the anti-corruption fight moving forward.