EFCC chief urges Nigerian youths against fraud
Analysis based on 6 articles · First reported Aug 13, 2026 · Last updated Aug 14, 2026
The event is unlikely to have a direct impact on financial markets. It may marginally influence public perception of the EFCC's enforcement efforts against cybercrime, potentially affecting investor confidence in Nigeria's digital economy.
On August 11, 2026, the Executive Chairman of the Nigeria — Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, addressed youths and teenagers at a conference organized by the Organization of African Instituted Churches, Rivers State Chapter, held at the Nigeria — Port Harcourt Ecumenical Centre in Nigeria — Port Harcourt, Nigeria. Speaking through Deputy Superintendent James Adayilo Hosea, Olukoyede warned against internet fraud, describing it as the use of the internet, computers, mobile phones, or social media to deceive people for financial gain. He listed common forms including fake online investments, romance scams, identity theft, social media impersonation, online shopping scams, cryptocurrency scams, fake giveaways, and fraudulent job offers. He cautioned that involvement could lead to arrest, prosecution, conviction, imprisonment, and asset forfeiture, stating 'All you have laboured for will be taken away.' He identified peer pressure and the desire for quick wealth as key motivators, urging youths to embrace integrity, develop marketable skills, and use technology to create value rather than exploit others. The event was publicized by EFCC Head of Media and Publicity, Dele Oyewale.
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