₦airaland Forum

The Economic and Financial Crimes Commission (EFCC) has expressed deep concern over the increasing involvement of young Nigerians in fraudulent activities, attributing the troubling trend to laziness, greed, and the pursuit of quick wealth.

According to the Commission, the growing obsession with material success among the youth has continued to erode moral values and weaken the nation’s ethical foundations. The EFCC described the situation as a dangerous shift in mindset — one where many young people now prioritize luxury and fame over hard work, discipline, and integrity. Eyes Of Lagos reports,
EFCC Urges Youths to Embrace Integrity and Hard Work

The Commission’s Chairman, Ola Olukoyede, made the remarks during an orientation and sensitisation programme held for new students of the Air Force Institute of Technology (AFIT), Nigerian Air Force, Mando, Kaduna, for the 2025/2026 academic session.

Represented by Chief Superintendent Nana Fatima Abubakar from the EFCC Public Affairs Department in Kaduna, Olukoyede delivered a lecture titled “Dangers of Cybercrime.”

He urged Nigerian youths to shun the temptation of quick riches through illegal means and instead build their future on honesty, dedication, and resilience.

“There is no shortcut to wealth,” Olukoyede emphasized.
“True success is earned through hard work, perseverance, and integrity. The urge to get rich overnight has destroyed many promising lives.”

He further warned that cybercrime and other forms of financial fraud not only attract criminal prosecution but also lead to loss of freedom, damaged reputation, depression, and even untimely death.9

The Dangers of Quick Wealth Mentality

The EFCC boss lamented that a disturbing number of young Nigerians now regard internet fraud — popularly known as “Yahoo Yahoo” — as an easy path to success. He noted that this mindset is being fueled by social media influencers and peer groups that glorify extravagant lifestyles without revealing the dark side of such pursuits.

According to him, “The constant display of luxury cars, designer clothes, and foreign trips online has created unrealistic expectations among youths, who now believe crime is the only way to achieve success.”

Olukoyede called on students to resist peer pressure and channel their creativity toward legitimate ventures such as digital entrepreneurship, software development, and innovation, adding that the same internet space used for fraud can also serve as a tool for positive impact.
Greed, Laziness, and Peer Pressure Identified as Key Drivers

Speaking further, the EFCC identified greed, laziness, lack of patriotism, and peer pressure as major factors driving young people into financial crimes.

Nana Fatima Abubakar, who represented the Chairman, explained that many of the youths arrested for cybercrime confessed to being influenced by friends who flaunted sudden wealth.

“They want to live big without putting in effort. Some even go as far as combining fraud with drug use and fetish practices. It’s a dangerous cycle of moral decay,” she said.

The Commission emphasized that education remains the strongest weapon against corruption and urged academic institutions to integrate anti-corruption and digital ethics awareness into their curriculum to guide students early.
EFCC Promotes Whistleblowing and Digital Reporting

In its ongoing effort to tackle economic crimes, the EFCC also encouraged students and the general public to play an active role by reporting suspicious activities through its Eagle Eye App.

Olukoyede assured that all reports are treated with strict confidentiality and that the identity of whistleblowers remains fully protected.

He reiterated that the Commission remains committed to safeguarding Nigeria’s image and future, but stressed that the fight against cybercrime cannot succeed without the active participation of citizens.

“Every youth has a choice to make — to build or to destroy. We urge you to choose the path of honor. Nigeria needs your creativity and innovation, not crime and corruption,” he concluded.

The EFCC’s latest warning serves as a timely reminder that while technology has opened doors to global opportunities, it has also become a tool for exploitation in the wrong hands. The Commission insists that the only sustainable route to success lies in honesty, consistency, and hard work.

The Economic and Financial Crimes Commission has confirmed the authenticity of the video showing the Kano State Governor, Umar Ganduje, allegedly receiving millions of dollars as bribe.

SATURDAY PUNCH gathered that forensic analysis of the video showing Ganduje receiving bribe from a contractor indicated that the video was not digitally cloned as claimed by some of his loyalists.

madridguy:
The FG should as matter of urgency grant every Yahuu boys,men and girls out there amnesty.

madridguy:
The FG should as matter of urgency grant every Yahuu boys,men and girls out there amnesty.

Bestunclejoe:
I agree 100% with EFCC on this, greed, greed and greed, products of laziness.

alphonsoolajide:
https://eyesoflagos.com/efcc-blames-laziness-greed-for-youth-fraud/

alphonsoolajide:
https://eyesoflagos.com/efcc-blames-laziness-greed-for-youth-fraud/

ManirBK:
Aug 28, 2023

The Federal Government says it has no intention to borrow from any local or foreign organisation with its removal of subsidy on petrol and exchange rate harmonisation.

The Minister of Finance and Coordinating Minister for the Economy, Chief Wale Edun, revealed this at the end of the inaugural Federal Executive Council meeting on Monday in Abuja.

He said that the benefit of the subsidy removal would be ploughed back into various sectors aimed at boosting government revenue and improving the business environment for local and foreign investment.

Edun said that with the increased revenue from subsidy removal, various palliatives have been made available to cushion its effect on a short, medium and long-term basis.

He reiterated the President Bola Tinubu-led administration’s desire to bring back the economy from the wood it has found itself over time.

https://www.vanguardngr.com/2023/08/fg-ends-borrowing-finance-minister/amp/

TimeManager:
The Federal Government has revealed that the elimination of the petrol subsidy under President Bola Tinubu has resulted in savings of over $84 billion, which are now being channelled into the construction and rehabilitation of 40 key road projects across the country over the past two years.

This was disclosed in a policy brief released by the National Orientation Agency (NOA), titled “Two Years Later: Key Benefits of Subsidy Removal,” and made available to journalists over the weekend in Abuja.

The report, which reviewed the outcomes of the subsidy removal since May 29, 2023, noted that the policy averted a looming economic crisis.

It also enabled the Tinubu administration to clear long-standing financial liabilities, increase capital investments, and support the financial stability of state governments.

https://businessday.ng/news/article/84bn-saved-from-petrol-subsidy-now-financing-40-key-roads-report/?amp

Nickisindigo:
Some people do Yahoo to have capital to go into their desired Business

Kukutente23:
Why is efcc so fixated on youths while politicians are looting the country dry?
Even the youths they are fixated on are the ones with no political connections
Can someone remind efcc that they were created for ECONOMIC and FINANCIAL crimes following the recommendations of the EU and other Western partners on how to nip money laundering by politicians in the bud?
Has Efcc jailed anyone for fuel subsidy fraud?
The humongous revenue accruing to both federal and states, is efcc telling us now that they are being judiciously used by our unscrupulous politicians and not looted?

Jayhome24:
Haaa efcc pls no talk like that cus one papa Aseluka a.k.a I won the election from the far 3rd position said yahoo are genius for being a criminal very soon drug traffickers and kidnappers too will be tag genius.

OracleJay411:
Peter Obi said they are good boys that just need training and directions. What a dumb talk