Ola Olukoyede, Chairman of the Economic and Financial Crimes Commission (EFCC), called on South-East youths to collaborate with the agency to eradicate financial crimes, which cost the region N500 billion annually.
Olukoyede emphasized that fraud, including internet scams and money laundering, undermines the South-East’s economic potential, contributing to its 40% unemployment rate.
Olukoyede highlighted the EFCC’s 2024 arrest of 2,000 suspects in the South-East, recovering N10 billion in looted funds. He urged youths to report suspicious activities, offering whistleblower protections and rewards up to N5 million per case. The summit, attended by 5,000 students, featured training on cybersecurity and ethical entrepreneurship to curb the region’s 30% cybercrime rate.
The EFCC plans to establish a South-East anti-fraud task force by Q3 2025, targeting 50% crime reduction. Olukoyede’s appeal follows a 2024 EFCC warning against protests targeting the agency, amid allegations of selective prosecutions. Community leaders praised the initiative but demanded transparency, citing the region’s 1,200 unresolved fraud cases since 2020.
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