Ola Olukoyede, executive chairman of the Economic and Financial Crimes Commission (EFCC), has warned Nigerian youths against engaging in internet fraud, saying the pursuit of quick wealth could destroy their future and wipe out assets acquired through fraudulent means.

Olukoyede gave the warning in Port Harcourt, Rivers State, on Tuesday, August 11, 2026, while addressing youths and teenagers at a conference organised by the Organisation of African Instituted Churches (OAIC), Rivers State Chapter, at the Port Harcourt Ecumenical Centre.

According to a statement by Dele Oyewale, EFCC Head of Media and Publicity,  Thursday, the conference, which focused on addressing social vices among young people, featured a presentation on “Internet Fraud Dangers, Consequences and Godly Alternative,” delivered on behalf of the EFCC chairman by a Deputy Superintendent of the EFCC, James Adayilo Hosea.

Olukoyede described internet fraud as the use of the internet, computers, mobile phones and social media platforms to deceive unsuspecting individuals for financial gain.

He warned that beyond the immediate financial and legal consequences, involvement in cybercrime could have long-term implications for the future, reputation and livelihood of young people.

According to him, internet-related crimes include fake online investment schemes, romance scams, identity theft, social media impersonation, online shopping scams, cryptocurrency fraud, fake giveaways and fraudulent job offers.

He said young people involved in such activities risk arrest, prosecution, conviction, imprisonment and forfeiture of assets traced to criminal proceeds.

“All you have laboured for will be taken away,” Olukoyede warned.

The EFCC chairman identified peer pressure and the desire to become wealthy within a short period as among the major factors driving young people into internet fraud.

He said the increasing pressure among youths to acquire expensive cars, live affluent lifestyles and attain financial success without going through the necessary process of education, skills acquisition and legitimate work was exposing many to criminal activities.

“Many young people want quick results without process. They want a car before career; comfortable lifestyle before they labour. They want rewards before work. Unfortunately, life does not work that way.

“Success without process rarely lasts. Peer pressure also leads some into committing internet crimes,” he said.

Olukoyede urged the youths, particularly those who profess Christianity, to embrace integrity and resist the temptation to measure success solely by material possessions.

He said every young person possesses unique talents, abilities and potential that could be developed for legitimate economic and social purposes.

“God created every young person with unique gifts, talents, and a purpose. He did not create us to live by deception or dishonesty, but to be lights in our generation,” he said.

Rather than deploying technology to defraud others, the EFCC chairman encouraged young Nigerians to use digital tools to create value, develop businesses, acquire useful skills and contribute to the country’s economic growth.

“Instead of using technology to scam people, use it to create value and be responsible citizens by learning useful skills and contributing meaningfully to the growth of the economy,” he said.

Olukoyede further advised youths to be deliberate about the people they associate with, warning that negative peer influence could undermine their future.

He urged them to avoid get-rich-quick schemes, acquire marketable skills, seek mentors known for integrity and develop personal development plans.

He also encouraged the youths to focus on long-term goals rather than instant gratification, while making productive use of technology.

Among the measures he recommended were choosing friends carefully, developing valuable skills, seeking guidance from credible mentors, maintaining spiritual discipline and setting clear personal and professional goals.

The EFCC boss also called on young Nigerians to view technology as an instrument for innovation and wealth creation rather than a tool for exploiting unsuspecting victims.

He stressed that legitimate success requires patience, discipline, hard work and a willingness to follow due process.

The commission’s warning comes amid continuing concerns over the involvement of young Nigerians in various forms of cybercrime, including online scams and fraudulent digital investment schemes.

The EFCC has repeatedly warned that proceeds of internet fraud can result in criminal prosecution and the forfeiture of properties, vehicles, cash and other assets linked to illicit activities.

Olukoyede therefore urged the youths to make choices that would protect their future and enable them to become productive contributors to society rather than expose themselves to criminal prosecution and the loss of assets.