The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has sounded a stark warning over the rising tide of internet fraud among Nigerian students, revealing that nearly 60 percent of university undergraduates are engaged in cybercrime, popularly known as “Yahoo-Yahoo.”
Olukoyede made this disclosure at the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities in Kano State. The conference brought together key stakeholders in the education sector to deliberate on the theme, “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalisation and Rankings.”
Describing the trend as deeply troubling, the EFCC boss said findings from the commission’s investigations and field operations over the past year point to widespread involvement of students in cyber-related offences.
“My research in the last one year has shown that about six out of 10 students in our universities are into cybercrime. It is a very disturbing situation,” he stated.
He further disclosed that a large proportion of suspects apprehended in recent EFCC operations were undergraduates, with some allegedly undermining academic integrity by placing lecturers on their payroll.
According to Olukoyede, the development highlights deeper systemic flaws within Nigeria’s university system, including weak oversight structures and administrative lapses that enable such practices to thrive.
Citing a major enforcement operation in Lagos, he revealed that 792 suspects linked to an international cybercrime syndicate were arrested, many of whom were students. He noted that the operation was driven by artificial intelligence tools, which exposed the scale and sophistication of cybercrime networks operating across borders.
The EFCC chairman also warned of the growing prevalence of “Yahoo Plus” — a dangerous evolution of internet fraud involving ritualistic practices — describing it as a disturbing escalation of criminal activity.
To combat the menace, Olukoyede called on university authorities and governing councils to strengthen internal controls and collaborate more closely with law enforcement agencies. He emphasized the urgent need for institutions to adopt artificial intelligence-driven governance systems to enhance transparency, detect fraud, and improve financial accountability.
He observed that many universities still rely heavily on manual processes, making them vulnerable to financial irregularities such as ghost workers, inflated contracts, and misappropriation of funds.
“A university that lacks financial accountability cannot produce credible graduates. The integrity of our institutions is a matter of national security,” he said.
Olukoyede advocated the deployment of AI tools in critical areas such as payroll management, procurement monitoring, fraud detection, and safeguarding academic integrity. He noted that such technologies can flag suspicious transactions, detect irregular salary payments, and enable real-time auditing.
He added that the EFCC has already integrated AI into its investigative framework, including digital forensics and financial tracking, significantly improving efficiency in tackling financial crimes. However, he cautioned that AI must complement—not replace—human oversight and should be implemented in line with existing legal and data protection frameworks.
The anti-graft chief also stressed the importance of capacity building in cybersecurity, machine learning, and digital governance across Nigerian universities. He urged institutions to invest in critical digital infrastructure such as broadband connectivity and cloud-based systems.
Finally, Olukoyede called for stronger collaboration between universities, regulatory bodies, and anti-corruption agencies to effectively tackle emerging digital threats and safeguard the future of Nigeria’s education system.
