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Politicians Using Yahoo Boys To Launder Billions — EFCC Chairman Raises Alarm

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Economic and Financial Crimes Commission, EFCC,

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has made a startling revelation about the deepening nexus between Nigerian politicians and internet fraudsters, popularly known as “Yahoo boys.”

According to him, politically exposed persons (PEPs) are now leveraging these cybercriminals to launder billions of naira in stolen public funds to offshore accounts.

Olukoyede, speaking during a press briefing on Monday at the EFCC headquarters in Abuja, disclosed that investigations have uncovered a growing pattern in which politicians use Yahoo boys to open cryptocurrency wallets, facilitating the transfer of illicit funds overseas.

READ MORE: EFCC Arrests Ex-APC Lawmaker, Muhammad Kazaure

These funds are often used to purchase luxury properties, cars, and other high-end items.

“When they steal billions, they hand the money over to these boys who open crypto wallets, and from there, the money moves abroad,” Olukoyede stated.

“Many of these PEPs go as far as lodging them in hotels just to ensure they can move stolen wealth undetected.”

The EFCC boss warned that this collaboration goes beyond cybercrime, highlighting that many fraudsters now engage in violent crimes such as banditry, ritual killings, and kidnapping when internet scams fail to yield results.

Rising Threat to National Security and Image

Olukoyede lamented the broader consequences of this trend, noting that it has brought global embarrassment to Nigeria and made international travel more difficult for ordinary Nigerians.

He shared an experience where Nigerians with green passports are often singled out for extra scrutiny abroad.

“That is a national shame that these Yahoo boys have caused us. You queue up with other travelers, and once you present your passport, there’s an instant look of suspicion. Sometimes, they pull you aside for special scrutiny,” he said.

Disturbing Youth Involvement

The chairman also revealed the arrest of a 22-year-old suspected fraudster who allegedly laundered over ₦5 billion within 18 months on behalf of corrupt politicians — despite having no legitimate source of income.

“We arrested a 22-year-old; he had a turnover of over ₦5 billion within 18 months. We discovered that he laundered money for politically exposed people. A boy who has never worked in his life,” Olukoyede disclosed with concern.

He expressed disappointment over the growing culture of get-rich-quick among Nigerian youths, blaming it on a collapse of moral values and a lack of emphasis on hard work and integrity.

A Call to Action

In his final remarks, Olukoyede called for a united front in combating this evolving threat, urging the public not to treat Yahoo boys with admiration but to recognize them as serious criminals undermining Nigeria’s future.

“Are these the kind of people we want to entrust the future of our country to?” he questioned. “We must all work together to rebuild the moral foundation of our society.”

Olukoyede also praised the EFCC’s achievements in 2024, highlighting the recovery of ₦365.4 billion and the successful prosecution of 4,111 cases.

He reaffirmed the agency’s commitment to surpassing these milestones in 2025.

Crime

How Routine FRSC Patrol Exposed Wanted Driver, Recovered Stolen Sienna

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A routine patrol by the Federal Road Safety Corps (FRSC) has led to the recovery of a stolen vehicle in Lagos and the exposure of a wanted driver, highlighting the importance of proper vehicle documentation and cooperation with authorities.

The incident occurred at the RS2.1114 Isolo Unit Command, where officers stopped an ash-coloured Toyota Sienna bearing registration number LSD438GK for a Vehicle Licence Violation (VLV) on Saturday, February 28, 2026, at about 5:11 p.m.

While the driver initially failed to present valid documents, further checks revealed the vehicle had been reported stolen and the driver was already declared wanted.

SEE ALSO: Fatigue, Over Speeding Led To Road Accident Which Claimed 21 Kano Athletes – FRSC

The suspect was subsequently handed over in handcuffs to the Nigeria Police Force, Ajao Division, for further action.

The FRSC credited the recovery to the National Vehicle Identification Scheme (NVIS), a digital framework that strengthens vehicle verification and tracking.

The scheme has reportedly helped identify, trace, and recover numerous stolen vehicles nationwide, while curbing criminal syndicates involved in vehicle theft and identity manipulation.

In a statement, Assistant Corps Marshal Olusegun Ogungbemide stressed that enforcement is not only about traffic compliance but also crime prevention and public safety, urging motorists to always carry valid documentation and cooperate with patrol officers.

Corps Marshal Shehu Mohammed commended the Isolo team for their vigilance, affirming the FRSC’s commitment to leveraging technology, intelligence, and strategic partnerships to protect lives and property on Nigerian roads.

 

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Crime

Election Scandal in Abuja: Woman Busted With 20 Voter Cards in Kabusa

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A major election scandal unfolded on Saturday in the Federal Capital Territory (FCT) as security agents apprehended a young woman in the Kabusa area for allegedly possessing 20 voter cards during the ongoing area council elections.

The woman, dressed in a black shirt and red trousers with a white scarf, was intercepted at Polling Unit 001 in Kabusa Primary School.

She was immediately escorted into a police van by security personnel, raising concerns about the integrity of the election process.

SEE ALSO: Chaos At Nyanya Polling Unit As PDP, ADC Accuse APC of ₦1,000 Vote Buying

Meanwhile, the Minister of the FCT, Nyesom Wike, was on the ground monitoring the elections.

He visited several polling units, including the Karu Chief’s Palace, to interact with adhoc staff of the Independent National Electoral Commission (INEC) and assess voter turnout.

Wike reportedly inquired about the progress of the voting and the challenges faced by election officials.

This incident comes amid reports of low voter turnout and other electoral irregularities in parts of Abuja, underscoring ongoing concerns about electoral security and transparency in the FCT area council elections.

Authorities have assured that investigations are ongoing, and the suspect may face legal action pending further verification of her actions.

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NAFDAC Cracks Down On Alleged Expired Goods Ring In Niger, Seals 18 Warehouses

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The National Agency for Food and Drug Administration and Control (NAFDAC) has intensified its fight against unsafe consumables with the sealing of 18 warehouses in Bida, Niger State, over the alleged storage and planned distribution of expired food and beverage products worth N100 million.

The enforcement action followed intelligence reports that large quantities of expired goods were being stockpiled in facilities located around Ndazabo White House along Minna Road, behind Bida Modern Market in Niger State.

In a statement issued by the agency’s Resident Media Consultant, Mr. Olusayo Akintola, NAFDAC said its Investigation and Enforcement Directorate carried out the raid, uncovering thousands of expired items already packaged for distribution.

ALSO READ: ‘No Suspension For Sachet Alcohol Ban’, NAFDAC Declares

Products recovered during the operation included 80,000 packets of expired non-alcoholic drinks, 5,000 packets of dairy milk, 16,000 packets of bottled water, 28 cartons of pasta, candies and other assorted goods.

The agency arrested managers of the affected warehouses for questioning, noting that preliminary investigations linked the facilities to a company identified as BY Ventures.

Following the discovery, NAFDAC extended its operation to supermarkets reportedly owned by the same company in Minna, where additional expired products and suspected counterfeit Goya oil were allegedly found. The supermarkets were subsequently sealed.

The Managing Director of the company, Alhaji Yusuf Nadabo, was invited for interrogation and reportedly admitted ownership of the seized expired products.

NAFDAC said investigations are ongoing and assured that appropriate regulatory sanctions would be applied at the conclusion of the probe to deter similar infractions.

The agency reiterated its warning to manufacturers, distributors and retailers to comply strictly with safety regulations, stressing that it would continue surveillance operations to protect public health.

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