‘6 Out of 10 Students Are Into Yahoo, Cybercrime’ — EFCC Boss Raises Alarm 

The chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised fresh concern over rising cybercrime among Nigerian students.

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He said a large number of undergraduates are now involved in internet fraud, describing the trend as alarming.

Olukoyede spoke on Tuesday in Kano. The event was the 8th biennial conference of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria (COPSUN).

The conference focused on improving university systems and exploring new technologies.

He revealed that recent observations by the commission show a disturbing pattern across campuses. According to him, “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.”

The EFCC boss said many of those arrested in recent operations are students. He added that the problem is not isolated. It cuts across several institutions. He linked the situation to weak monitoring systems within universities and poor accountability structures.

Olukoyede also disclosed that some suspects use illegal funds to influence academic processes. He said cases have emerged where lecturers were allegedly compromised. This, he noted, threatens the credibility of the education system.

He pointed to a major operation carried out in Lagos in December 2024. During the raid, 792 suspected cyber fraudsters were arrested. He said a significant number of them were students. According to him, the arrests exposed how organised cybercrime networks have become.

The EFCC chairman further warned about the growing trend of “Yahoo Plus.” This involves combining internet fraud with ritual practices. He described it as dangerous and deeply troubling.

He called on university authorities to act quickly. He urged them to strengthen internal controls. He also asked schools to work 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 stressed the need for modern tools in tackling fraud. He encouraged institutions to adopt artificial intelligence in key areas. These include payroll systems, procurement processes and academic monitoring.

He explained that AI can help detect unusual transactions. It can also flag irregular salary payments. According to him, it will improve transparency and real-time auditing.

He added that the EFCC has already started using AI tools. These tools support digital investigations and financial tracking. He said the agency will continue to expand its use of technology in fighting crime.