The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has defended the agency’s intensified crackdown on internet fraudsters, popularly known as Yahoo boys, emphasizing the broader security threat they now pose.
Speaking at the EFCC’s corporate headquarters in Abuja on Thursday while hosting The PUNCH’s management team, Olukoyede revealed that Nigeria lost over $500 million to internet fraud within a single year.
He stressed that online scams have evolved beyond financial fraud, now extending into violent crimes such as ritual killings, arms trafficking, and kidnapping.