Politics

$500m misplaced to web fraud in 2022 -EFCC chair

The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has decried the adverse affect of web crimes popularly generally known as “yahoo yahoo’’ on the nation.

Olukoyede disclosed that a number of worldwide corporations needed to shut down their Nigerian operations following huge theft of their funds by native wire fraud.

He famous that in 2022, over $500m was misplaced on account of the actions of Internet fraudsters.

An announcement by the fee’s Head of Media and Publicity, Dele Oyewale, mentioned the EFCC chairman spoke on the Global Peace Movement International awards on Thursday, the place he was named the Man of the Year.

He mentioned, “In 2022, we misplaced over $500 million in our financial system to yahoo boys. The statistics are there. In the identical yr, about 71 worldwide corporations left Nigeria as a result of they hacked their accounts.

“We can’t get bank cards in Nigeria due to our poor credit standing due to the actions of those cyber criminals. So, one of the best we will get is debit playing cards.

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“Do you know that there are some international merchants that you cannot use Nigerian cards on their platforms? Display your green passport outside the country and see if they will not take you aside and search you thoroughly.”

He acknowledged that no shade of financial and monetary crime would go unaddressed underneath his management of the EFCC.

Olukoyede added that individuals stealing cash in excessive locations began from native governments and faculty associations.

He mentioned, “We will do the mini; we will do the mega. If you don’t do the mini, the mini will become the mega. Some of these people stealing money in high places started from the local governments, they started as leaders of associations in schools, where they stole money and they did nothing to them and it became part of their lives.”

Olukoyede promised to not disappoint Nigerians and to not spare the corrupt.

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