The Economic and Financial Crimes Commission has said that fraudulent activities such as internet fraud, money laundering, and economic sabotage are costing Nigeria billions of naira annually and worsening the plight of innocent citizens seeking to travel abroad.
The EFCC Chairman, Ola Olukoyede, stated that these crimes not only undermine the nation’s growth by depriving citizens of jobs, infrastructure, and opportunities but also erode Nigeria’s image, resulting in stricter visa restrictions for law-abiding Nigerians.
Olukoyede, represented by the Chief Superintendent of the EFCC, CSE Coker Oyegunle, gave the charge on Monday at an event in Port Harcourt, Rivers State, organised by the Coalition of Nigerian Youth on Security and Safety Affairs.
In a release issued by the commission on Tuesday, 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.”
He stressed that beyond the personal damage, fraudulent practices tarnish Nigeria’s international reputation and subject innocent Nigerians abroad to unfair treatment and restrictions.
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The EFCC boss urged young people in the South-South and across the country to channel their energy into productive ventures such as digital innovation, entrepreneurship, agriculture, and the creative industry, while reaffirming the commission’s readiness to intensify sensitisation, enforcement, and collaboration with communities to curb cybercrime.
Also speaking at the event, a representative of the National Drug Law Enforcement Agency, Mathew Ewah, warned that drug abuse remained one of the most dangerous threats facing Nigerian youths, while the Nigeria Security and Civil Defence Corps cautioned against pipeline vandalism in the South-South.
The EFCC has in recent times intensified its clampdown on internet-related crimes. In August, operatives of the Lagos Zonal Directorate 1 arrested 38 suspected internet fraudsters at Mambillah Hotel, Ikorodu, Lagos, following days of surveillance. Vehicles, mobile phones, and substances suspected to be narcotics were recovered from the suspects.
Similarly, the Benin Zonal Directorate of the EFCC 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.
