EFCC Warns Youths Against Greed and Quick Wealth Mentality
The Economic and Financial Crimes Commission (EFCC) has raised alarm over the increasing involvement of young Nigerians in fraudulent activities, blaming the surge on laziness, greed, and an unhealthy desire for quick wealth.
According to the Commission, the obsession with material success among the youth is eroding moral values and weakening Nigeria’s ethical foundations. The EFCC described the trend as a dangerous shift in mindset, where many now prioritise luxury and fame over hard work, discipline, and integrity.
EFCC Chairman Ola Olukoyede made these remarks during an orientation and sensitisation programme for new students of the Air Force Institute of Technology (AFIT), Nigerian Air Force, Mando, Kaduna, for the 2025/2026 academic session. Represented by Chief Superintendent Nana Fatima Abubakar from the EFCC Public Affairs Department, Olukoyede delivered a lecture titled “Dangers of Cybercrime.”
He urged Nigerian youths to resist the lure of quick riches through illegal means, reminding them that there is no shortcut to success. “True success is earned through hard work, perseverance, and integrity. The urge to get rich overnight has destroyed many promising lives,” he warned. Olukoyede added that cybercrime not only leads to criminal prosecution but also results in loss of freedom, depression, and even death.
The EFCC chairman lamented the growing popularity of internet fraud, widely known as “Yahoo Yahoo,” which many young people now see as an easy route to wealth. He attributed the mindset to social media influencers and peer groups that glamorise extravagant lifestyles. “The constant display of luxury cars, designer clothes, and foreign trips online has created unrealistic expectations among youths, who now believe crime is the only way to achieve success,” he said.
Olukoyede encouraged students to channel their energy and creativity into legitimate ventures such as digital entrepreneurship, software development, and innovation. He stressed that the same internet used for fraud can also be a powerful tool for progress and impact.
The EFCC also identified greed, laziness, lack of patriotism, and peer pressure as key factors pushing youths into financial crimes. Nana Fatima Abubakar, speaking on behalf of the Chairman, revealed that many cybercrime suspects confessed to being influenced by friends flaunting sudden wealth. “They want to live big without putting in effort. Some even mix fraud with drug use and fetish practices. It’s a dangerous cycle of moral decay,” she noted.
The Commission further urged schools to integrate anti-corruption and digital ethics into their curriculum to educate students early. It also called on the public to join the fight against financial crimes by reporting suspicious activities through its Eagle Eye App, assuring that whistleblowers’ identities remain confidential.
Olukoyede reaffirmed the Commission’s commitment to protecting Nigeria’s image and future but stressed that success in fighting cybercrime requires collective responsibility. “Every youth has a choice to make — to build or to destroy. Nigeria needs your creativity and innovation, not crime and corruption,” he concluded.
The EFCC’s warning serves as a timely reminder that while technology offers vast opportunities, it also poses risks when misused. The Commission insists that true and lasting success can only come from honesty, hard work, and integrity.
