The Economic and Financial Crimes Commission (EFCC) has warned that rising cases of internet fraud are contributing to stricter visa restrictions for law-abiding Nigerians abroad.
EFCC Chairman Ola Olukoyede, speaking through Chief Superintendent Coker Oyegunle at an event in Port Harcourt organised by the Coalition of Nigerian Youth on Security and Safety Affairs, said fraudulent practices damage not only the future of perpetrators but also Nigeria’s international image.
According to the commission, such crimes, including internet fraud, money laundering, and economic sabotage, cost the country billions of naira annually, undermining national growth and denying citizens access to infrastructure, jobs, and opportunities.
Olukoyede urged young people to pursue productive ventures in digital innovation, entrepreneurship, agriculture, and the creative industry, warning that shortcuts like “yahoo-yahoo” fraud destroy freedom, reputation, and future prospects.
He also reaffirmed the EFCC’s commitment to intensifying sensitisation, enforcement, and collaboration with communities to curb cybercrime.