The Economic and Financial Crimes Commission (EFCC) says it has secured 3,175 convictions and recovered N156,276,691.30 in the last one year from May 29, 2023 to May 29, 2024. This was made known on Wednesday by the EFCC Chairman, Ola Olukoyede who was represented by the Secretary of the Commission, Mohammed Hammajoda during the launch of EFCC’s zero tolerance club at the University of Abuja.
According to the Commission, also recovered was $43,835,214.24, 25,365 GBP, 186,947.10 Euros, 21,580,867,631 cyrptocurrency, amongst others.
He said, “In spite of this commendable performance, the Commission is deeply worried about the increasing involvement of young people including students in cybercrime, popularly called Yahoo Yahoo. Hundreds of suspects are arrested monthly, with many of them ending up in jail.
“There is no justification that will make Yahoo Yahoo acceptable. Contrary to the impression in some quarters, being a fraudster is synonymous with creativity or being smart.
“As students, you are expected to channel your creative energies into useful engagements and not get entangled in cheating others of their resources.”