EFCC alerts public to emerging threat of ritual killings, banditry by internet fraudsters

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has justified the agency’s intensified crackdown on internet fraudsters, commonly known as Yahoo boys, highlighting the growing security risks associated with their activities.

Speaking at the EFCC headquarters in Abuja on Thursday while hosting The PUNCH management team, Olukoyede disclosed that Nigeria lost over $500 million to internet fraud in just one year. He emphasized that online scams have escalated beyond financial fraud, now fueling violent crimes such as ritual killings, arms trafficking, and kidnapping.

“We are actively tackling the issue. Last year alone, we received over 11,000 petitions, investigated nearly 9,000 cases, and prosecuted close to 5,000 despite our limited manpower. Some criticize us for going after Yahoo boys, but they fail to grasp the severity of their crimes,” Olukoyede stated.

“It’s no longer just about financial scams. Many are now involved in kidnapping, banditry, and ritual killings. Our investigations have uncovered disturbing cases, including the use of young female victims for rituals.”

He warned that if decisive action is not taken, Nigeria could face dire consequences in the next decade.

Beyond cybercrime enforcement, Olukoyede also stressed the commission’s commitment to internal accountability. He revealed that in the past year, 27 EFCC employees were dismissed over corruption-related offenses.

“You cannot fight corruption while being corrupt yourself. I have publicly challenged anyone to provide evidence that I have ever accepted bribes in my years of service. Integrity is non-negotiable in this fight, and we must lead by example,” he asserted.

He further urged the media to support the anti-corruption campaign by engaging in investigative journalism that not only exposes corruption but also highlights the EFCC’s achievements.