Photo: EFCC Chair, Ola Olukoyede
By Didimoko A. Didimoko, Lagos
The Economic and Financial Crimes Commission has warned that internet fraud and money laundering are draining Nigeria’s economy and making it harder for Nigerians to secure visas abroad.
EFCC Chairman Ola Olukoyede, in a message delivered at a youth sensitization forum in Port Harcourt on Tuesday, described cybercrime as a deadly trap that steals young people’s futures and damages the country’s image. He cautioned that those chasing quick money often lose their freedom, reputation, and future, adding that digital footprints never disappear.
Olukoyede explained that fraud and money laundering cost Nigeria billions of naira every year, stifle national growth, and deny citizens opportunities for jobs and infrastructure. The global consequence, he said, is that innocent Nigerians now face stricter visa checks and suspicion abroad. He urged youths to channel their talents into digital innovation, entrepreneurship, agriculture, and the creative industry, warning them not to destroy their tomorrow with shortcuts today.
Other security agencies present at the event echoed the warning. The representative of the National Drug Law Enforcement Agency, Assistant Commander General Narcotics Mathew Ewah, said drug abuse is one of the gravest threats to Nigerian youths, describing it as a social problem that turns many into misfits and weakens families and communities. The Nigeria Security and Civil Defence Corps was represented by Assistant Superintendent Kabiru Zakari, who condemned oil pipeline vandalism, stressing that spillage poisons creeks, ruins farmlands, and endangers public health. He urged young people to serve as protectors of community resources rather than saboteurs.
The EFCC has recently intensified its crackdown on fraud. On August 1, 2024, the Commission launched an Immigration Fraud Section with units in Lagos, Abuja, Port Harcourt, and Kano, a move Olukoyede described as urgent to curb the growing number of immigration-related scams targeting Nigerians.
