EFCC’s Arrest  of 95 ‘Yahoo Boys’

IN what looked like  the most massive bust ever recorded by the Economic and Financial Crime Commission, EFCC, since it intensified the fight against Internet scammers in the country, operatives of the agency, Ibadan Zone recently raided a night club in Osogbo, known for hosting parties for suspected internet fraudsters.

NO fewer than 94 suspects were arrested at the end of the operation. during which 19 exotic cars, laptops, scores of sophisticated mobile phones and other items were confiscated.

THE operation was not the first of its kind. For example, the agency in Lagos, Enugu and Abuja swopped on over 53 suspected fraudsters and arrests were made within 24 hours. The situation was the same at the Ladoke Akintola University of Technology, Ogbomoso, LAUTECH, where police arrested 25 students of the institution. Items recovered from them include, $169 000, N92million, 4matic Benz, Toyota Camry, Toyota Corolla, two MacBook computers, two Ipads, two iPhones among others.

WE recall the joint operations between EFCC and Federal Bureau of Intelligence FBI. where over 80 Nigerians were indicted. The exercise led to the arrest of 28 suspects. Nine of them are already undergoing trial while five are still under investigations. Also, the sum of $314,000 was recovered while N373 million traced to various commercial banks in the country.

WE are worried that the internet fraud menace is becoming a monster that needs to be tamed quickly; otherwise the future of the youths and Nigeria may be at stake.  Reports have it that most of those involved in the frauds are students and young graduates between the ages of 16 and 29years. The crime is gender compliant, involving both male and female folks.

ACCORDING to immediate past Minister of Communications, Adebayo Shittu,  Nigeria loses about N127 billion representing, 0.8 per cent of the country’s Gross Domestic Products, to cyber crime yearly.

SEVERAL factors are responsible for cybercrime in Nigeria. Some experts are of the belief that the three-pronged advent of the internet, computers and the mobile phones gave rise to a massive outbreak of cybercrimes.

ADDED to this, criminals and fraudsters leverage on the anonymity provided by the Internet to defraud unsuspecting victims. They are fond of impersonating others and stealing their identities to perpetrate their acts. They also take undue advantage of people in distress to swindle their victims.

THE implication of these criminal activities is grievous, for example most countries are weary of allowing Nigeria’s citizens into their country. According to Cable Network News, CNN, Nigeria has the world  highest united kingdom visa refusal rate, putting it at  35%. It also ranks highly in US visa refusals with  57%.

THIS had also led to distrust, negative portrayal bad corporate image for the country as well as distrust in consumer attitude  to do business with Nigeria’s business men.

ON the home front, it is a reflection of our state as a country. We cannot deny the fact that the state of our economy is bad, leading to huge youth unemployment. Youths naturally would look for an avenue to engage themselves and means to survive. They unfortunately now channel their energy in the wrong direction.

WITH the number of graduates yearly passing out from the nation’s higher institutions, we cannot but point out that Nigeria is developing brains leaving them to  wander about and gravitating to criminal tendencies.

WE therefore enjoin the government to find solutions to the problems of unemployment in Nigeria. We are of the belief that if power is solved, it would have spiral effect on employment. Reason being that most of the companies grappling with excruciating effect of powering their machines with fuel will heave a sigh of relieve and expand their businesses.

WE also encourage government to create   conducive environment for farming and make it attractive to the youths. No doubt, agriculture can solve unemployment problems in the country if it is well implemented.

WE commend the EFCC for busting the activities of these fraudsters by not giving them a breathing space. We however advise it to go beyond prosecuting the offenders; but also assist at rehabilitating them back to the society after serving their prison terms.