By Ebenezer Mabinuola
On May 12, 2025, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, made a significant statement urging Nigerian youths to shun internet fraud and focus on education, innovation, and entrepreneurship.
This statement, delivered during a courtesy visit by the National Youth Council of Nigeria (NYCN) at the EFCC headquarters in Abuja, underscores the commission’s ongoing efforts to address cyber crime and redirect youth potential toward productive avenues.
The EFCC, established to combat economic and financial crimes in Nigeria, has been vocal about the rising issue of cyber crime, particularly among youths. Recent data from various sources, including EFCC reports, indicate significant financial losses due to cyber crime, with estimates suggesting global losses could reach $10.5 trillion by 2025, and Nigeria losing over $500 million annually in 2022.
This backdrop highlights the urgency of Olukoyede’s call, which aligns with the commission’s prevention mandate and its efforts to sensitize the public.
The statement was made in the context of a meeting with NYCN, led by its President, Comrade Akoshile Mukhtar. This visit was part of NYCN’s broader engagement with stakeholders to promote good governance and fight corruption, reflecting a collaborative approach to addressing national challenges.
Olukoyede’s remarks were not isolated but part of a series of recent activities, including court convictions for internet fraud and the unveiling of initiatives like the Cyber Crime Research Centre, aimed at building capacities against internet fraud.
During the meeting, Olukoyede expressed delight at the NYCN’s visit, emphasizing the EFCC’s readiness to partner with the council. He stated, “I am happy that you are here. I am happy that you are concerned about the future of this country. I am happy that you are concerned about the future of our youths. I am happy that you are concerned about the fight against corruption.” This opening set a tone of collaboration and shared responsibility.
He then charged Nigerian youths directly, saying, “I want to charge you to stay away from internet fraud. Stay away from all forms of financial crimes. Focus on your education. Focus on innovation. Focus on entrepreneurship. That is the way to go.”
This call was framed as a directive to redirect the talents and skills of youths, many of whom are seen as smart and capable, toward legitimate and productive endeavours.
Olukoyede reassured the audience of the EFCC’s commitment, stating, “I want to assure you that the EFCC will continue to do its best to fight corruption. We will continue to do our best to protect the integrity of this country. We will continue to do our best to ensure that Nigeria is a better place for all of us.”
The NYCN President, Comrade Akoshile Mukhtar, echoed these sentiments, commending the EFCC’s efforts and assuring the commission of the council’s support.
He reiterated the call for youths to avoid internet fraud, emphasizing education, innovation, and entrepreneurship as the path forward. This mutual reinforcement suggests a unified front against cyber crime, with both parties committed to mentoring and guiding Nigerian youths.
