By Milcah Tanimu

The Economic and Financial Crimes Commission (EFCC) has announced a significant milestone in its anti-corruption efforts during President Bola Ahmed Tinubu’s first year in office. Between May 29, 2023, and May 29, 2024, the EFCC secured 3,175 convictions and recovered ₦156,276,691,242.30.

During the launch of the Zero Tolerance Club at the University of Abuja, EFCC Executive Chairman Ola Olukoyede, represented by Secretary Mohammed Hammajoda, detailed the Commission’s achievements. The recovered amounts included various currencies: $43,835,214.24, £25,365.00, €186,947.10, ₹51,360.00, C$3,750.00, A$740.00, ¥74,754.00, R35,000.00, 42,390.00 UAE Dirhams, 247.00 Riyals, and 21,580,867631 in cryptocurrency.

Despite these accomplishments, Olukoyede expressed concern over the growing involvement of young people in internet fraud, commonly known as “Yahoo Yahoo.” He noted that hundreds of suspects are arrested monthly, with many ending up in jail.

“In spite of this commendable performance, the Commission is deeply worried about the increasing involvement of young people, including students, in cybercrime,” Olukoyede stated. He urged university students to steer clear of internet fraud, emphasizing that a fraud conviction can leave a lasting negative impact on their futures.

“There is no justification that will make Yahoo Yahoo acceptable. Contrary to the impression in some quarters, being a fraudster is not synonymous with creativity or being smart. As students, you are expected to channel your creative energies into useful engagements,” he added.

The EFCC’s Public Affairs Department Director, DCE Wilson Uwujaren, emphasized the importance of mobilizing youth against corruption. “The blessings that God has given Nigeria have not really translated into wealth for all of us. This is why the EFCC is here today, not only to launch a Zero Tolerance Club for you but also to sensitize you on why it is important for you to embrace the fight against corruption,” Uwujaren said.

University of Abuja Vice Chancellor Professor Abdulrasheed Na’Allah encouraged students to focus on productivity and avoid activities that could tarnish their reputations. He stressed the importance of using talents for creativity and innovation, as seen in developed nations.

During the event, Assistant Commander ACEII David Ife and Head of the Commission’s Enlightenment and Reorientation Unit, ACEII Aisha Mohammed, highlighted the negative impacts of cybercrime and the importance of instilling anti-corruption values among the youth.

The launch concluded with the presentation of the Commission’s manuals, magazines, and signage to the University of Abuja, symbolizing the start of a continuous conversation and proactive engagement in the fight against corruption.