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Tag: Ola Olukoyede

  • EFCC Boss Reveals How Yahoo Boys Stole N7.2m from Serving Judge Overnight

    The Chairman of the Economic and Financial Crimes Commission, 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 in a midnight cyberattack.

    Olukoyede shared the incident during the public presentation of two books written by Alaba Omolaye-Ajileye, describing it as a clear example of the growing threat posed by cybercrime in Nigeria.

    Judge lost six years of savings overnight

    According to the EFCC chairman, the judge, who serves in one of the South-South states, was awakened around 1 a.m. by multiple debit alerts showing that fraudsters had emptied her account.

    He said the stolen N7.2 million represented six years of savings the judge had set aside to fund her child’s education.

    Olukoyede disclosed that the judge immediately contacted him after discovering the withdrawals.

    EFCC recovered the stolen money

    The EFCC chairman said the commission quickly launched an investigation and successfully recovered the entire amount before 6 p.m. on the same day.

    He added that the incident happened in a state where a court order had previously restricted the EFCC from investigating certain financial crimes.

    According to Olukoyede, the judge later admitted that becoming a victim of cybercrime changed her perspective on the agency’s work.

    “He added that if an application comes before that judge to stop the EFCC from carrying out its mandate, she will refuse it because she has become a victim,” he said.

    Cybercrime remains a major concern

    Olukoyede used the incident to stress the increasing sophistication of internet fraudsters and the need to strengthen efforts to combat cybercrime across the country.

    He noted that cybercriminals continue to target Nigerians from all walks of life, including public officials and members of the judiciary.

    The EFCC has not disclosed the identity of the judge, the specific South-South state involved or whether any suspects have been arrested in connection with the case.

  • EFCC Probed Pastor Jerry Eze for Six Months, Found No Fraud — Olukoyede Reveals

    The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that the agency investigated Streams of Joy International founder, Pastor Jerry Eze, for six months over suspected money laundering. He said the probe was triggered by intelligence reports linked to large foreign currency inflows.

    Olukoyede made the revelation while speaking on the commission’s investigative processes.

    Probe Triggered by Heavy Foreign Currency Inflows

    According to the EFCC boss, the investigation began after officials flagged a domiciliary account receiving multiple inflows in dollars and pounds from different countries. He said the pattern raised initial suspicion.

    “We saw an account where dollars and pounds were coming in from Colombia, America, Sri Lanka and even Togo,” he said, explaining that the volume of transactions prompted further scrutiny.

    EFCC Conducted Detailed Six-Month Investigation

    Olukoyede said the commission carried out a thorough review of financial records linked to the pastor over a six-month period. He noted that the probe was intelligence-driven and followed standard procedures.

    The EFCC, he explained, relies on petitions and data analysis to initiate such investigations.

    Pastor Invited, Cleared After Review

    He disclosed that Pastor Jerry Eze was later invited for questioning after preliminary findings were compiled. However, after reviewing the evidence and hearing his explanation, the commission found no case against him.

    “I didn’t call you here to explain. We had already done our work. I called you to commend you,” Olukoyede said.

    EFCC Warns of Ongoing Monitoring

    Despite clearing the cleric, the EFCC chairman emphasised that financial activities across sectors, including religious institutions, remain under scrutiny. He warned that some individuals have used similar platforms for fraudulent activities.

    He reiterated the commission’s commitment to monitoring suspicious transactions and enforcing financial laws.

    Case Highlights EFCC’s Intelligence-Led Approach

    The disclosure offers insight into how the anti-graft agency tracks and investigates financial flows, particularly involving foreign transactions. It also underscores the broader focus on transparency and accountability in Nigeria’s financial system.