The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Olanipekun Olukoyede, has raised alarm over the growing involvement of university students in internet fraud, popularly known as “Yahoo Yahoo.”
Mr Olukoyede disclosed that about six out of every 10 students in Nigerian universities are allegedly involved in cybercrime, describing the trend as deeply troubling.
He made the disclosure at the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria, held in Kano.
The conference, themed “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalisation and Rankings,” brought together key stakeholders in the education sector.
Speaking at the event, the EFCC boss said findings from the commission’s investigations and field operations over the past year revealed widespread participation of undergraduates in internet fraud and related offences.
“My research in the last one year has shown that about six out of 10 students in our universities are into cybercrime. It is a very disturbing situation,” he said.
He added that many suspects arrested in recent EFCC operations were students, noting that some had allegedly gone as far as compromising the academic system by placing lecturers on their payroll.
According to him, the development points to deeper systemic issues, including weak institutional oversight and administrative vulnerabilities within universities.
Mr Olukoyede also cited a major operation in Lagos, where 792 suspects linked to a transnational cybercrime syndicate were arrested. He noted that a significant number of those apprehended were students.
He explained that the operation, powered by artificial intelligence tools, exposed the scale and sophistication of cybercrime networks operating within and beyond Nigeria.
The EFCC chairman further warned about the rise of “Yahoo Plus,” a form of cyber fraud that involves the use of fetish practices alongside internet scams.
He called on university authorities and governing councils to take urgent measures to curb the menace by strengthening internal controls and collaborating closely with law enforcement agencies.
Mr Olukoyede also urged pro-chancellors to adopt AI-driven governance systems to enhance transparency, detect fraud and improve financial accountability in tertiary institutions.
“A university that lacks financial accountability cannot credibly train future professionals. The integrity of our universities is a matter ofnational security,” he said.
