Nollywood actor, Ugo Nwokolo, has generated widespread reactions after claiming that internet fraud, popularly known as Yahoo, has contributed to keeping Nigeria’s economy afloat amid the country’s deepening economic hardship.
Speaking during a video discussion, Nwokolo argued that the soaring cost of living and skyrocketing rental prices have left many civil servants unable to survive on their monthly earnings.
He maintained that workers earning between N50,000 and N90,000 cannot realistically afford the multi-million naira rents now demanded in major cities such as Abuja and Lagos.
“Personally, I think Yahoo has helped keep the economy afloat. Do you expect a civil servant to afford house rent of N3 million or N5 million in Abuja?” he said.
The actor further questioned how low-income earners are expected to cope with the increasing cost of essentials, including clothing, suggesting that only affluent individuals, among them internet fraudsters, are able to meet such financial demands.
“If you go to Lagos now, the least you’ll see for a two-bedroom apartment is about N7 million or N8 million. Who is supposed to afford it? The civil servants? Of course, it’s the fraudsters,” he added.
Although he acknowledged that internet fraud is a criminal act, Nwokolo stressed that he was not defending it. He nonetheless argued that the proceeds from such activities have fueled economic transactions at a time when many Nigerians are battling severe financial challenges.
“I’m not justifying crime, but yes, Yahoo is helping the economy. How do you expect people to live in this kind of economy?” he said.
