The Economic and Financial Crimes Commission (EFCC) has raised alarm that the rising cases of internet fraud, popularly known as yahoo-yahoo, are worsening visa restrictions for innocent Nigerians seeking opportunities abroad.
EFCC Chairman, Ola Olukoyede, gave the warning on Monday during an event in Port Harcourt, stressing that cybercrime not only damages the economy but also tarnishes Nigeriaās global reputation. His remarks were contained in a statement issued by the commission on Tuesday.
According to him, internet fraud and other financial crimes cost Nigeria billions of naira yearly undermining development, depriving citizens of jobs and infrastructure, and subjecting innocent travellers to harsher visa conditions.
āFraud is not success; it is a trap. Easy come, easy go. Many who follow the path of yahoo-yahoo end up losing their freedom, reputation, and future. The law is catching up with them, and digital footprints never disappear. Donāt destroy your tomorrow with shortcuts today,ā Olukoyede cautioned.
The EFCC boss reaffirmed the agencyās resolve to step up sensitisation, enforcement, and community collaboration in the fight against cybercrime.
Also at the event, the National Drug Law Enforcement Agency (NDLEA) warned that drug abuse remains a serious threat to young Nigerians, while the Nigeria Security and Civil Defence Corps (NSCDC) urged vigilance against pipeline vandalism.
The warning comes as EFCC intensifies its crackdown nationwide. In August alone, operatives in Lagos arrested 38 suspected internet fraudsters, while the Benin Zonal Directorate secured the conviction of 12 persons including two brothers for offences ranging from advanced fee fraud to retention of proceeds of crime.
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