‘Nigerian youths are lazy and greedy’: EFCC explains why internet fraud is rising

The Economic and Financial Crimes Commission (EFCC) has attributed the growing cases of internet fraud in Nigeria to what it described as “laziness” and “greed” among the country’s youths.

According to the anti-graft agency, many young people now view cybercrime as the fastest route to wealth, rather than committing to hard work, discipline, and perseverance.

EFCC Chairman, Ola Olukoyede, made the statement during an orientation and sensitisation programme organised for new students of the Air Force Institute of Technology (AFIT), Nigerian Air Force Base, Mando, Kaduna, for the 2025/2026 academic session.

Represented by Chief Superintendent Nana Fatima Abubakar from the Public Affairs Department of the EFCC’s Kaduna Zonal Directorate, Olukoyede spoke on the topic “The Dangers of Cybercrime.”

He warned that the desire for quick riches among young Nigerians often leads to devastating consequences, including imprisonment, loss of reputation, depression, and in some cases, untimely death.

“There is no shortcut to wealth. Hard work, perseverance, and dedication remain the only sure paths to success,” Olukoyede said. “The greed and laziness that drive many youths into internet fraud will only destroy their future and stain their image.”

The EFCC chairman further noted that while youths constitute the largest group of cybercrime perpetrators in the country, they also possess the potential to use technology and the internet for positive, legitimate opportunities.

“The same internet space used for cybercrime can be used for innovation, entrepreneurship, and productivity. Young Nigerians should channel their creativity into building solutions that contribute to the nation’s growth rather than destroy it,” he added.

Olukoyede identified peer pressure, lack of patriotism, and moral decay as major factors fueling internet fraud. He also expressed concern over the increasing link between cybercrime, drug abuse, and fetish practices, describing the trend as “a dangerous cocktail that ruins destinies.”

The EFCC boss urged students to embrace integrity and support the Commission’s anti-corruption efforts by reporting fraudulent activities through its Eagle Eye App, which ensures the anonymity of whistleblowers.

He reaffirmed the agency’s commitment to tackling economic and financial crimes through education, enforcement, and collaboration with institutions of learning.

Established in 2002 under former President Olusegun Obasanjo, the EFCC remains Nigeria’s foremost anti-graft body, mandated to combat corruption, financial crimes, and internet fraud across the country.