The Economic and Financial Crimes Commission (EFCC) has warned that the growing wave of internet fraud, popularly called “yahoo-yahoo”, is one of the key reasons countries are tightening visa rules for Nigerian citizens.

 

EFCC Chairman Ola Olukoyede, represented by Chief Superintendent CSE Coker Oyegunle, issued the warning during a youth security summit in Port Harcourt, Rivers State. He stressed that cybercrime is tarnishing Nigeria’s global reputation and hurting opportunities for law-abiding citizens.

 

“Beyond the economic damage, these crimes erode Nigeria’s image and subject innocent Nigerians to harsher visa restrictions abroad,” the EFCC stated.

 

Olukoyede noted that cybercrime, money laundering and other forms of economic sabotage cost Nigeria billions of naira annually, block job opportunities and slow national growth.

 

He urged young people to embrace entrepreneurship, agriculture, innovation and the creative industries instead of seeking quick wealth through online fraud.

 

“Fraud is not success; it is a trap. Easy come, easy go. Many who follow the path of ‘yahoo-yahoo’ end up losing their freedom, reputation and future. The law is catching up with them and digital footprints never disappear. Don’t destroy your tomorrow with shortcuts today,” he cautioned.

 

The EFCC boss promised that the agency will continue to intensify awareness campaigns, strengthen enforcement, and work with communities to combat cybercrime.

 

At the same event, the National Drug Law Enforcement Agency (NDLEA) warned that drug abuse remains one of the biggest threats to Nigerian youths, while the Nigeria Security and Civil Defence Corps (NSCDC) cautioned against pipeline vandalism in the South-South region.

 

The EFCC has recently ramped up arrests of suspected internet fraudsters. In August 2025, its Lagos office apprehended 38 suspects in Ikorodu after days of surveillance, recovering vehicles, phones and suspected narcotics.

 

The warning comes amid tougher immigration policies abroad. In July 2025, the United States reduced the validity of some non-immigrant visas for Nigerians, including B1/B2 (business/tourism) and F and J (student and exchange visitor) visas, limiting them to three months, single entry.