The Economic and Financial Crimes Commission (EFCC) has raised concerns that the rising cases of internet fraud perpetrated by fraudsters notoriously known as ‘yahoo boys’ were worsening visa restrictions for law-abiding Nigerians abroad.
The EFCC chairman, Ola Olukoyede, said fraudulent practices not only ruin the future of perpetrators but also tarnish Nigeria’s international reputation, leading to stricter travel conditions for innocent citizens.
Olukoyede was represented by Chief Superintendent of the EFCC, CSE Coker Oyegunle, gave the warning on Monday at an event in Port Harcourt, Rivers State, organised by the Coalition of Nigerian Youth on Security and Safety Affairs. His remarks were contained in a statement released by the commission on Tuesday.
According to the EFCC, “internet fraud, money laundering, and economic sabotage cost Nigeria billions of naira annually, undermining national growth and depriving citizens of infrastructure, jobs, and opportunities. Beyond the economic damage, the crimes erode Nigeria’s international image and subject innocent Nigerians to stricter visa restrictions abroad.”
Olukoyede also cautioned young people against chasing shortcuts through fraud, urging them to instead channel their creativity into productive ventures such as digital innovation, entrepreneurship, agriculture, and the creative industry.
He was quoted as saying, “Fraud is not success; it is a trap. Easy come, easy go. Many who follow the path of ‘yahoo-yahoo’ always end up losing their freedom, reputation, and future. The law is catching up with them and digital footprints never disappear. Don’t destroy your tomorrow with shortcuts today.”
The EFCC boss reaffirmed the commission’s commitment to intensify sensitisation, enforcement, and collaboration with communities to curb cybercrime and related offences.
At the same event, the National Drug Law Enforcement Agency (NDLEA) representative, Mathew Ewah, described drug abuse as one of the most dangerous threats facing Nigerian youths, while officials of the Nigeria Security and Civil Defence Corps (NSCDC) warned against pipeline vandalism in the South-South region.
The EFCC has recently stepped up its clampdown on cybercrime across the country. In August, operatives of its Lagos Zonal Directorate 1 arrested 38 suspected internet fraudsters at Mambillah Hotel, Ikorodu, after days of surveillance. Items recovered from the suspects included vehicles, mobile phones, and substances suspected to be narcotics.
Similarly, the Benin Zonal Directorate secured the conviction of 12 persons, including two brothers, for fraud-related offences. They were sentenced by Justice M. Itsueli of Edo State High Court after pleading guilty to charges bordering on advance fee fraud, possession of fraudulent documents, and retention of proceeds of crime.
LEADERSHIP reports that the warning by the EFCC came against the backdrop of recent U.S. visa restrictions on Nigerians. In July, Washington revised its visa reciprocity schedule, cutting the validity of certain non-immigrant visas to three months and restricting them to single entry. The affected categories include the B1/B2 visas for business and tourism, as well as F and J visas for students and exchange visitors.
