Dele Oyewale, spokesperson for the Economic and Financial Crimes Commission (EFCC), claimed that internet fraudsters, known as ‘Yahoo Boys,’ are harming Nigeria’s economy more than politicians. He explained that the EFCC arrests and prosecutes more internet fraudsters due to their severe impact.
Oyewale emphasized that the perception that these fraudsters are less dangerous is incorrect, as internet fraud is a major crisis in Nigeria, driven by high youth unemployment and societal pressure to acquire wealth. The EFCC reports thousands of convictions of internet fraudsters each year, highlighting Nigeria’s high ranking in global cybercrime.
He reiterated the commission’s commitment to combating all forms of financial crime, stating, “We are dedicated to ensuring that all perpetrators do not thrive.”
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