The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has expressed concern over the growing involvement of Nigerian university students in cybercrime, revealing that nearly six out of every 10 undergraduates are engaged in internet fraud.
Olukoyede made the disclosure on Tuesday during the opening of the 8th biennial conference of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria held in Kano. The conference, themed “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalisation and Rankings,” brought together key stakeholders in the education sector.
Citing findings from recent EFCC field operations, the anti-graft agency boss described the situation as alarming, noting that his research over the past year points to widespread participation of students in cyber fraud.
“My research in the last one year has shown that about six out of 10 students in our universities are into cybercrime. It is a very disturbing situation,” he said.
He attributed the trend to deep-rooted structural issues within the university system, including weak oversight and poor accountability mechanisms. According to him, many suspects arrested in cybercrime operations are undergraduates, with some allegedly placing lecturers on their payroll to compromise academic standards.
Olukoyede further revealed that a significant number of the 792 suspected internet fraudsters arrested in Lagos in December 2024 were students, highlighting the scale and organisation of cybercrime networks across the country.
The EFCC chairman also raised concern over the emergence of “Yahoo Plus,” a form of internet fraud reportedly combined with fetish practices, which he said poses additional risks to society.
He called on university authorities to strengthen internal controls and collaborate more closely with law enforcement agencies to curb the menace.
“A university that lacks financial accountability cannot credibly train future professionals. The integrity of our universities is a matter of national security,” he said.
Olukoyede also advocated the adoption of artificial intelligence tools in fraud detection, payroll management, procurement monitoring, and safeguarding academic integrity. He noted that such technologies could help flag suspicious transactions, detect irregular salary payments, and improve real-time auditing.
He added that the EFCC has already begun deploying artificial intelligence in its investigations, particularly in digital forensics and financial tracking, as part of efforts to combat financial crimes more effectively.
