The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has defended the commission’s ongoing crackdown on internet fraudsters, popularly known as Yahoo Yahoo boys, despite criticisms from some quarters.
Speaking on Thursday, Olukoyede stated that the country lost over $500m in one year due to internet fraud.
The EFCC boss noted that the activities of internet fraudsters had evolved beyond online scams, warning that they were now involved in more dangerous crimes, such as kidnapping, ritual killings, and arms trafficking.
“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,” Olukoyede stated.
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