The Economic and Financial Crimes Commission (EFCC) has expressed deep concern over the growing involvement of youths in cybercrime, popularly known as “Yahoo Yahoo,” in Lagos State. The agency highlighted the issue as a critical challenge undermining Nigeria’s economic and social fabric.
EFCC Chairman Ola Olukoyede, speaking at a recent cybersecurity summit, described cybercrime as a “burning issue” distorting family values and stifling innovation among young Nigerians. He urged youths to shun internet fraud, warning of severe consequences, including imprisonment. The agency estimates Nigeria lost over $500 million to cybercrime in 2022, with Lagos being a major hub.
In a massive crackdown, the EFCC arrested 792 suspects, including 193 foreigners, in a December 2024 raid on a Victoria Island building used as a “hustle kingdom” for training youths in romance and investment scams. Additional operations in 2024 and 2025 led to the arrest of dozens of suspected fraudsters across Lagos, with 24 Nigerian youths recently handed over from Ghana for investigation.
The EFCC attributes the trend to unemployment and poverty, noting that 80% of perpetrators are students. To address this, the agency launched a 24-hour Cybercrime Rapid Response Desk and is developing a Cybercrime Research Centre to train 500 youths in cybersecurity skills. Collaborations with state governments and youth-focused initiatives are also underway to provide legitimate opportunities.
The EFCC’s efforts have sparked mixed reactions, with some praising the crackdowns and others calling for solutions to socioeconomic root causes. The agency continues to appeal for collective action to curb the menace.
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