EFCC Chairman Ola Olukoyede has revealed that Nigerian politicians now use internet fraudsters, or “Yahoo boys,” to launder billions in stolen public funds via crypto wallets and offshore accounts.
He disclosed that some of the fraudsters, now involved in kidnapping and banditry, have laundered over ₦5 billion for politically exposed persons.
Olukoyede warned that the trend poses a national security threat and contributes to Nigeria’s global image crisis. He urged collective efforts to tackle youth unemployment and moral decline.
