The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has reaffirmed the agency’s commitment to tackling internet fraud, despite growing criticism of its aggressive clampdown on Yahoo Yahoo boys.
Speaking on Thursday during a visit by the management of The PUNCH to the EFCC headquarters in Abuja, Olukoyede disclosed that Nigeria lost over $500 million in a single year due to internet fraud.
He warned that the activities of online fraudsters had evolved into more dangerous criminal enterprises, including kidnapping, ritual killings, and arms trafficking.
“We are doing the work. Last year alone, we received over 11,000 petitions, investigated close to 9,000 cases, and prosecuted nearly 5,000. Some people criticise us for going after Yahoo Yahoo boys, but they fail to understand the severity of this crime,” he said.
“It is no longer just about scamming people. These individuals are now deeply involved in kidnapping, banditry, and even ritual killings. Some of our investigations have uncovered horrifying 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 to confidently hand over this country to.”
Olukoyede also disclosed that the EFCC had been actively purging corrupt elements within its ranks, revealing that 27 staff members were dismissed in the past year over corruption allegations.
“You cannot be fighting corruption while being corrupt yourself. I have publicly challenged anyone to present evidence that I have ever collected bribes in my years of service. Integrity is key in this fight, and we must lead by example,” he stated.
The EFCC chairman called on the media to play a more active role in shaping public perception of the commission’s work, stressing the importance of investigative journalism in exposing corruption and highlighting the agency’s achievements.
“The media has always been a key player in the anti-corruption fight. In the early 2000s, before the EFCC was established, it was journalists who exposed many financial crimes. We need to return to that era where the media and law enforcement work together to protect the country,” Olukoyede said.
Echoing this sentiment, the Chief of Staff to the EFCC Chairman, Michael Nzekwe, praised the role of the media in public sensitisation and advocacy, calling for greater collaboration.
“The media is a critical partner in this fight. The awareness and advocacy you create have helped sustain the anti-corruption movement in Nigeria. We ask for even more understanding in how our work is reported. The fight against corruption is for the good of all Nigerians, not just the EFCC,” Nzekwe stated.
