You’ll lose everything you earn through internet fraud — Olukoyede warns youths

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has warned Nigerian youths involved in internet fraud that the proceeds of their activities could ultimately be lost through arrest, prosecution, imprisonment and forfeiture of assets.

Olukoyede gave the warning on Tuesday, August 11, 2026, while addressing youths and teenagers at a conference organised by the Rivers State chapter of the Organisation of African Instituted Churches at the Port Harcourt Ecumenical Centre.

The EFCC shared details of the engagement on its social media platforms on Thursday.

Speaking through a Deputy Superintendent of the EFCC, James Adayilo Hosea, the commission’s chairman urged young Nigerians to abandon cybercrime and pursue legitimate opportunities capable of providing sustainable livelihoods.

He spoke on the theme, “Internet Fraud: Dangers, Consequences and Godly Alternative,” during the conference, which focused on tackling social vices and encouraging young people to make responsible choices.

Olukoyede described internet fraud as the use of computers, mobile phones, social media platforms and other internet-based tools to deceive people for financial gain.

He warned that the apparent wealth generated from cybercrime could have devastating consequences for the perpetrators, stressing that law enforcement action could wipe out assets acquired through illicit proceeds.

“All you have laboured for will be taken away,” Olukoyede warned.

He explained that internet-related crimes took different forms, including fake online investment schemes, romance scams, identity theft, social media impersonation, online shopping fraud, cryptocurrency scams, fake giveaways and fraudulent job offers.

According to him, anyone involved in such activities risks arrest, prosecution, conviction, imprisonment and possible forfeiture of assets.

The EFCC chairman also identified the desire for quick wealth and peer pressure as major factors driving some young Nigerians into cybercrime.

He said the pressure to achieve material success without going through the necessary process of building a career or business had made some youths vulnerable to fraudulent activities.

“Many young people want quick results without process. They want a car before career; comfortable lifestyle before they labour. They want rewards before work. Unfortunately, life does not work that way. Success without process rarely lasts,” he said.

Olukoyede added that peer pressure could equally push young people into criminal activities, urging them to be careful about the friends and influences they allowed into their lives.

He challenged the youths to make productive use of technology by acquiring skills, creating value and contributing to the economy instead of using digital platforms to defraud unsuspecting victims.

“Instead of using technology to scam people, use it to create value and be responsible citizens by learning useful skills and contributing meaningfully to the growth of the economy,” he said.

Addressing the youths from a Christian perspective, Olukoyede urged them to embrace integrity and resist the temptation to measure success solely by material possessions.

“God created every young person with unique gifts, talents, and a purpose. He did not create us to live by deception or dishonesty, but to be lights in our generation,” he said.

He advised the participants to avoid get-rich-quick schemes, choose their friends carefully, acquire marketable skills and seek guidance from mentors who demonstrate integrity.

The EFCC chairman further encouraged them to develop personal development plans, focus on long-term goals, devote time to prayer and the study of the Bible, and resist the temptation of instant gratification.

He said young Nigerians had the potential to use technology to build legitimate careers and businesses, rather than exploit others for quick financial gains.

Olukoyede urged the youths to understand that genuine success requires patience, discipline and hard work, stressing that choices made at a young age could have lasting consequences on their future.