The Economic and Financial Crimes Commission (EFCC) has issued a stern warning, stating that the rising number of internet fraud cases, popularly known as “yahoo-yahoo,” is leading to stricter visa restrictions for innocent Nigerians abroad.
According to a statement released by the commission, EFCC Chairman Ola Olukoyede emphasized that these fraudulent practices not only ruin the lives of those involved but also tarnish Nigeria’s international image. This, in turn, results in law-abiding citizens facing more stringent travel conditions.
Olukoyede, who was represented by Chief Superintendent of the EFCC, Coker Oyegunle, at a youth event in Port Harcourt, highlighted the massive economic damage caused by internet fraud and money laundering. He noted that these crimes cost Nigeria billions of naira annually, depriving the nation of funds needed for infrastructure, jobs, and development.
The EFCC chairman urged young Nigerians to channel their energy into productive ventures such as digital innovation, entrepreneurship, and agriculture. He warned that “fraud is not success; it is a trap,” and that those who follow the path of “yahoo-yahoo” often end up losing their freedom, reputation, and future.
He concluded by reaffirming the commission’s commitment to intensifying its fight against cybercrime through sensitization, enforcement, and collaboration with communities.