Yahoo Boys Causing National Sh+me and Fueling Cr+me for Politically Exposed Persons — EFCC Chairman, Olukoyede
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has decried the widespread damage internet fraudsters, popularly known as Yahoo Yahoo boys, are inflicting on Nigeria’s global image.
Speaking at a press briefing on Monday at the agency’s Abuja headquarters, Olukoyede said, “We are having a crisis on our hands. If you travel abroad with your green passport… the immigration officers will look at you with some reservation. That is, if they don’t take you aside for special scrutiny. That is a national sh+me that some young Nigerians (Yahoo boys) have caused for us.”
He noted that beyond fra¥d, many of these individuals are now involved in more dang£rous criminal activities. “Some of these guys are into banditry, k+dnapping. When they don’t see people to sc+m on time, they resort to these vices. Some of them launder money for politically exposed persons. Don’t just see them as Yahoo Yahoo boys anymore.”
The EFCC boss revealed disturbing details of how stolen public funds are being funneled through young cybercriminals. “When they (politicians) st£al money in billions, they give it to these boys who open crypto wallets and send the money abroad. They help them buy houses, cars, and other luxury items.”
Citing a recent case, he said: “We arrested a 22-year-old with over N5 billion turnover in 18 months. He never worked a day in his life but laundered money for politically exposed people. Some are into rit¥al k+llings and cybercr+me. You see secondary school students in expensive cars. Is that the kind of nation we want to build?”
Olukoyede also highlighted the agency’s achievements under his leadership. In May, he announced that the EFCC recovered over N365.4 billion and secured 4,111 convictions in 2024 alone. He credited this to the staff’s commitment and vowed to surpass the record in 2025.
“The EFCC’s workforce will become a critical mass of honest, highly motivated and effective officers committed to professionalism and integrity,” he affirmed.
