The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Olanipekun Olukoyede, has said that about six out of every 10 students are involved in internet fraud, otherwise known as ‘Yahoo-Yahoo’.
Olukoyede made the disclosure during the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities in Nigeria held in Kano State, where stakeholders gathered to discuss the theme, “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalisation and Rankings.”
Describing the trend as alarming, the EFCC boss said findings from the commission’s investigations and field operations indicate widespread student involvement in cybercrime and related offences.
According to him, “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 explained that many suspects arrested in recent operations were undergraduates, adding that some had allegedly compromised academic standards by placing lecturers on their payroll.
He lamented that the development underscores deeper systemic issues, including weak institutional oversight and administrative vulnerabilities within universities.
Olukoyede also cited a major operation in Lagos, where 792 suspects linked to a transnational cybercrime syndicate were arrested.
He said a significant number of those apprehended were students, explaining that the operation was powered by artificial intelligence tools, which exposed the scale and sophistication of cybercrime networks operating both within and outside Nigeria.
The EFCC chairman further warned about the growing trend of “Yahoo Plus,” where internet fraud is combined with fetish practices, describing it as a dangerous evolution of cybercrime.
He called on university authorities and governing councils to take urgent steps to curb the menace by strengthening internal controls and collaborating more closely with law enforcement agencies.
Olukoyede urged pro-chancellors to deploy artificial intelligence-driven governance systems to improve transparency, detect fraud, and enhance financial accountability across tertiary institutions.
He observed that many universities still rely on manual processes, making them susceptible to fraud, including ghost workers, inflated contracts, and diversion of funds.
He stressed that a university that lacks financial accountability cannot credibly train future professionals, as the integrity of universities is a matter of national security.
The EFCC boss advocated the use of AI in key areas such as fraud detection, payroll management, procurement monitoring, and safeguarding academic integrity, saying that such tools can help flag suspicious transactions, identify irregular salary payments, and strengthen real-time auditing processes.
He added that the EFCC has already integrated AI into its investigative processes, including digital forensics and financial tracking, improving efficiency in tackling financial crimes, and cautioned that artificial intelligence should complement—not replace—human oversight and must be deployed in line with existing legal frameworks, including data protection and procurement laws.
He also stressed the need for capacity building in cybersecurity, machine learning, and digital governance across university systems, urging institutions to invest in digital infrastructure such as broadband connectivity and cloud-based platforms.
He further called for stronger collaboration between universities, regulatory bodies, and anti-corruption agencies to effectively address emerging threats in the digital space.
Six in 10 university students engaged in cybercrime – EFCC Chairman Olukoyede
