The Chairman of the Economic and Financial Crimes Commission, Mr Ola Olukoyede, has raised concerns over the growing threat of internet fraud, popularly known as Yahoo Yahoo, recounting how fraudsters emptied ₦7.2 million from the bank account of a serving judge in the middle of the night.
Olukoyede disclosed this while speaking at the public presentation of two books authored by retired High Court judge, Justice Alaba Omolaye-Ajileye.
According to the EFCC chairman, he received a distress call around 1 a.m. from a serving judge in one of the South-South states who had fallen victim to cybercriminals.
He explained that the judge said she had been saving the money for six years to pay her child’s school fees. The victim reportedly began receiving multiple debit alerts around midnight, and before the transactions could be stopped, about ₦7.2 million had been withdrawn from her account.
Olukoyede revealed that the incident happened in the same state where a court had earlier restrained the EFCC from investigating certain financial crimes.
“I reminded her that there was already an injunction restricting our operations in the state, but she insisted that her case was different and urged us to act immediately,” he said.
The EFCC chairman stated that the commission immediately launched an operation and successfully recovered the entire ₦7.2 million before 6 p.m. the same day.
He noted that experiencing financial crime firsthand often changes people’s perception of the importance of the commission’s work.
According to him, victims of cybercrime usually develop a better understanding of why the EFCC must be allowed to carry out its responsibilities without unnecessary restrictions.
Olukoyede stressed that tackling financial crimes requires the collective efforts of law enforcement agencies, the judiciary, government institutions and Nigerians.
He expressed confidence that with stronger collaboration, Nigeria would overcome the growing menace of cybercrime.
