Ekiti State, long celebrated as Nigeria’s Land of Honour, is now battling a troubling wave of internet fraud among its youths, including secondary school students.
The Economic and Financial Crimes Commission (EFCC) says the trend has grown so alarming that teenagers who should be preparing for exams are instead learning scam tactics online.
EFCC Chairman Ola Olukoyede, who hails from Ikere-Ekiti, revealed that many students now skip school by noon to chase quick money through cybercrime.
His words, “I’m from a state where education is our pride. I’m from a state where the major enterprise we have is education. If you go to the secondary school that I attended now, sir, by 12 noon, the students have left school. You see them in hotels, in groups, trying to scam people. You see secondary school students driving vehicles. Is that the nation we want to build? Now, sir, let me tell you the most dangerous aspect of it. It’s not just about Yahoo Yahoo. Nigerians should know this. Some of them are into banditry. We have evidence. We have proof. Some of them are into kidnapping. Yes, because when they don’t see people to scam, they kidnap. Some of them now launder money for the politically exposed persons. So don’t just see them as Yahoo Boys anymore. The traditional way of stealing money is no longer applicable. When they steal government money in billions now, they give it to all these boys. They open cryptocurrency wallet, crypto wallet and they put the money there. From there, the money goes abroad. You can buy a house, you can buy vehicles, you can buy anything with your Bitcoin.”
Since the EFCC opened a new office in Ado-Ekiti in June, hotels, lounges and restaurants have reported a sharp drop in customers.
Some residents believe those who used to spend heavily in these places have either left town or gone quiet for fear of investigation.
EFCC spokesperson Dele Oyewale insists the agency is not harassing innocent people, saying, “We don’t harass and we don’t intimidate. We don’t do night operations. Our officers are professionals; they know what to do. You only need to find out exactly the set of people making those allegations because, for us, we are professionals.”
He added, “We are in Ekiti State to help businesses grow. We are there to ensure that every threat to lawful businesses is removed. There is no way our activities can negatively affect legitimate businesses. Every lawful business owner has nothing to fear. We are in that location to make businesses grow.”
Still, many young professionals say dressing well or driving a good car is now enough to draw suspicion.
Former presidential adviser Senator Babafemi Ojudu described the situation as a warning sign for the state’s economy.
He wrote, “For the past two weeks, I have been inundated with stories of empty hotels, deserted lounges, quiet supermarkets, and struggling businesses across Ekiti State, particularly in Ado-Ekiti, the state capital. ‘Could this be real’, has been the question I asked myself.”
Ojudu added, “The young men popularly known as Yahoo Boys, together with their numerous associates and hangers-on, have reportedly fled in large numbers. Their fear of the EFCC, it would seem, has become the beginning of wisdom.”
He also noted a protest in Ikere-Ekiti, saying, “Some parents and sympathisers reportedly staged a protest, directing their anger at both the traditional ruler and the Chairman of the EFCC.”
Ojudu warned, “If we reward learning, we produce scholars. If we reward enterprise, we produce innovators. If we reward integrity, we produce statesmen. But if we reward criminality, we should not be shocked when criminals eventually govern us.”
Public affairs analyst Tunde Owoeye cautioned that not everyone earning well online is a fraudster, pointing to the rise of legitimate careers in forex trading, cryptocurrency and digital marketing.
Financial expert Bunmi Olatunde agreed, saying owning nice things or living well should never automatically mean someone is a criminal.
She stressed that investigations must be based on solid evidence, not appearances or assumptions.
APC publicity secretary in Ekiti, Segun Dipe, defended the new EFCC office, describing it as a boost for accountability and investor confidence in the state.
He said, “This is timely because Ekiti is selling something valuable to the world: its reputation. Under Governor Biodun Abayomi Oyebanji, Ekiti has chosen transparency as a governing style, not a campaign poster.”
Despite the mixed reactions, observers say the EFCC’s presence in Ekiti brings real benefits, including faster investigations and stronger protection against fraud, money laundering and Ponzi schemes.
Owoeye believes the agency should remain in the state, insisting that any cases of wrongful profiling should be corrected rather than used as an excuse to halt operations.
Olatunde summed it up simply, the true measure of success will not be the number of arrests made, but the EFCC’s ability to fight crime without punishing innocent, hardworking young Nigerians.
Digital Operations Manager at The Students Forum Nigeria.
