EFCC Chair Olukoyede Reveals How Yahoo Boys Stole N7.2m From Judge’s Account

Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed how suspected internet fraudsters, popularly known as Yahoo boys, stole more than N7.2 million from the bank account of a serving judge before the commission successfully recovered the money within hours.

Olukoyede disclosed the incident while speaking at the launch of two books authored by retired High Court judge, Justice Alaba Omolaye-Ajileye.

According to the EFCC chairman, the serving judge contacted him around 1 a.m. after receiving multiple debit alerts from her bank account.

He explained that the money had been saved over several years to finance her child’s education abroad.

“She had just been scammed of the money she had been putting together for six years to send her child to school,” Olukoyede said.

He disclosed that the victim lost about N7.2 million before reaching out to him for assistance.

Olukoyede added that the incident occurred in a state where the EFCC had earlier been restrained by a court order from carrying out investigations into certain financial crimes.

Despite the legal constraints, he said the judge pleaded with him to intervene immediately.

Quoting the judge, he said: “No, no, no! This is an exception. You must do something immediately!”

The EFCC boss said the commission responded swiftly by tracing the transaction and taking urgent steps to recover the stolen funds.

“Before 6 p.m., we recovered the entire money for her,” he stated.

Olukoyede said the incident highlights the growing threat posed by cybercrime and the need for Nigerians to take internet fraud more seriously.

“When you become a direct victim, that is when you’ll know that something has to be done,” he said.

He also called for stronger collaboration among law enforcement agencies, the judiciary and the public in tackling cybercrime across the country.

The EFCC chairman further urged lawmakers to review Nigeria’s legal framework to accommodate the use of artificial intelligence in criminal investigations, noting that current laws make it difficult to admit AI-generated evidence in court.

At the event, former Attorney-General of the Federation, Kanu Agabi (SAN), also urged anti-corruption agencies to intensify efforts to recover stolen public funds hidden abroad.