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Yahoo boys chasing away foreign investors, EFCC warns

EFCC chairman warns that rampant youth cybercrime is damaging Nigeria’s reputation and hindering economic growth.

admin by admin
July 8, 2025
in Crime, Economy, Life Style, News
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The Chairman of the Economic and Financial Crimes Commission, EFCC, Ila Olukoyede has raised concerns over the growing involvement of Nigerian youths in internet fraud, warning that it is severely damaging the country’s international reputation and discouraging foreign investment.

Olukoyede, represented by Assistant Commander of the EFCC 1 (ACE I), Effa I. Okim, Acting Zonal Director of the Benin Zonal Directorate, made this assertion during an event at Unity Hall, Government House, Asaba, Delta State.

“The menace of internet fraud among our youth is pervasive, and it is a stain on us as a people and as a nation. They have embraced this crime to the detriment of their future and the image of the nation,” he said.

Highlighting the negative impact of youth cybercrime, Olukoyede noted that it has led to the destruction of Nigeria’s international image, deterred foreign investment, reduced investor confidence, stifled youth creativity, and contributed to the collapse of industries.

He urged young Nigerians to reject internet fraud and focus on their potential, stating, “Our youths are vibrant, forward-looking, resilient, creative, and intelligent. They can hold their own in any part of the world.”

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Tags: Chairman of EFCCcyber crimeEFCCForeign investorsInternet fraudstersMr Ola Olukoyede
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