EFCC Raises Alarm Over Yahoo Boys’ Shift To Ritual Killings, Banditry

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.

“We are doing the work. Last year alone, we had over 11,000 petitions, investigated close to 9,000, and prosecuted nearly 5,000 cases despite our limited manpower. Some people criticise us for going after Yahoo Yahoo boys, but they don’t understand the severity of the crime,” Olukoyede said.

“It is no longer just about scamming people. They are now into kidnapping, banditry, and ritual killings. Some of our investigations have uncovered horrifying details, including cases where young female victims were used for rituals.

“If we don’t act decisively, in the next 10 years, we may not have a generation we can confidently hand over this country to,” he added.

Beyond tackling cybercrime, Olukoyede also highlighted the EFCC’s commitment to internal accountability, revealing that in the past year, 27 employees of the commission were dismissed over corruption-related offenses.

“You cannot be fighting corruption and be corrupt yourself. I have publicly challenged anyone to come forward with evidence that I have collected bribes in my years of service. Integrity is key in this fight, and we must lead by example,” he stated.

The EFCC Boss further called on the media to support the anti-corruption battle by engaging in investigative journalism that exposes both corruption and the EFCC’s achievements.

“The media has always been a key player in the anti-corruption fight. In the early 2000s, before the EFCC was established, it was journalists who exposed many financial crimes. We need to return to that era where the media and law enforcement work together to protect the country,” he noted.