••Cybercriminal have evolved into a dangerous network, engaging in violent crimes, says EFCC Chairman Ola Olukoyede.
The Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, has issued a grave warning about the evolving nature of cybercrime in Nigeria. Speaking at the EFCC headquarters in Abuja on Thursday, Olukoyede revealed that internet fraudsters, commonly known as Yahoo Boys, have transitioned into a more dangerous criminal network involved in kidnapping, banditry, and ritual killings.
“We are dealing with a very serious threat,” Olukoyede stated during a meeting with the management of The Punch. “It is no longer just about scamming unsuspecting victims online. Yahoo Boys have now moved into organized crime—kidnapping, banditry, and ritual killings.”
He lamented that Nigeria lost over $500 million to cybercrime in just one year, emphasizing the escalating nature of the problem. Olukoyede cited investigations revealing horrifying cases where young women were abducted and used for ritual sacrifices, warning that the future of the nation is at risk if decisive action is not taken.
“In the last year alone, we received over 11,000 petitions, investigated nearly 9,000 cases, and prosecuted almost 5,000 offenders, despite our limited manpower,” he explained. “If this trend continues unchecked, in the next decade, we may not have a stable future to hand over to our children.”
The EFCC Chairman also announced internal reforms, disclosing the dismissal of 27 staff members for corruption in the past year. “You cannot fight corruption while being corrupt yourself,” he asserted, emphasizing the importance of integrity within the commission.
Olukoyede called on journalists to play a more proactive role in exposing crime and corruption, highlighting the crucial role of investigative journalism in strengthening Nigeria’s anti-corruption efforts. He urged a return to the collaborative relationship between journalists and law enforcement that existed before the establishment of the EFCC.
Michael Nzekwe, Chief of Staff to the EFCC Chairman, echoed this call, emphasizing the media’s vital role in public sensitization and advocating for a stronger partnership in the fight against corruption and organized crime.
The EFCC’s revelations underscore growing concerns about the increasingly dangerous activities of cybercriminals, solidifying their status as a significant security threat to Nigeria.
