By Femi Osinusi
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has blamed the rising involvement of Nigerian youths in economic and financial crimes on family neglect and parenting failures.
Olukoyede, represented by Assistant Commander of the EFCC, Bawa Usman Kaltungo, made the remarks on Friday, September 19, at the Armed Forces Command and Staff College, Kaduna. He spoke on the theme “Family Neglect and Youth Involvement in Economic Offences.”
According to him, young people who grow up without adequate emotional, psychological, and material support from their families are more vulnerable to crime. “By addressing the root causes of family neglect and providing support services, education and job opportunities, we will be working towards reducing youth involvement in economic and financial crimes and promoting ethical behaviours,” he said.
He explained that neglect often stems from poverty, ignorance, drug abuse, or deliberate abandonment of responsibility, stressing that the link between family dysfunction and youth criminality requires a multi-dimensional approach. Strengthening family support systems, mentorship initiatives, and sporting programmes, he added, could channel the energy of young people into more productive ventures.
Olukoyede further revealed that many students arrested for internet fraud cite financial hardship as their motivation. “On numerous occasions, some students of tertiary institutions whom we arrested would often plead they are indigent students self-financing their education,” he said.
He praised the Federal Government’s intervention through the Nigerian Education Loan Fund (NELFUND), noting that its N50 billion seed capital was sourced from EFCC’s recovered proceeds of crime. According to him, the scheme aligns with the Commission’s preventive mandate by helping students avoid the lure of cybercrime.
The EFCC chairman also highlighted the agency’s reorientation programmes aimed at shielding young people from financial crimes. These include the EFCC Integrity Club in primary and secondary schools, the Zero Tolerance Club in tertiary institutions, the EFCC/NYSC CDS group, and the annual National Cybercrime Summit.
Olukoyede reaffirmed the Commission’s commitment to tackling youth involvement in economic offences, stressing that prevention through education, mentorship, and social support remains as crucial as enforcement.
