Nollywood actor Ugo Nwokolo has sparked debate after arguing that internet fraud, popularly called “Yahoo” in Nigeria, contributes to economic activity amid the country’s rising cost of living.
Nwokolo made the comments during a video discussion while speaking about the financial pressure facing low-income workers and the increasing cost of accommodation in major Nigerian cities.
The actor questioned how civil servants earning between ₦50,000 and ₦90,000 monthly could cope with rents running into millions of naira, particularly in Abuja and Lagos.
He argued that the gap between workers’ salaries and housing costs has created a difficult situation for many Nigerians.
“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.
Nwokolo also pointed to other household expenses, including clothing and basic needs, as examples of the financial burden facing Nigerians.
He claimed that the high cost of living has left wealthy individuals, including people involved in internet fraud, among those able to spend heavily and sustain economic activity.
Speaking about accommodation in Lagos, the actor said two-bedroom apartments could cost between ₦7 million and ₦8 million, questioning how ordinary salary earners could afford such rents.
However, Nwokolo said his comments should not be interpreted as an endorsement of criminal activity.
He maintained that his argument was based on the economic realities confronting Nigerians and the spending power generated by people involved in internet fraud.
“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.