Azaman: Auchi-based yahoo boy arrested for allegedly laundering N450 million

The Economic and Financial Crimes Commission (EFCC) has traced over $300,000 (about N450 million) to a suspected internet fraudster (Yahoo Boy) currently held in the agency’s custody. 

According to the information made available on EFCC’s X page on Tuesday, it expressed that the suspect was a group of 35 internet fraudsters picked up on Sunday, May 4, 2025, in Sabo Iyako area of Auchi, Edo State by the anti-graft agency. EFCC noted that it acted on credible intelligence that linked them to fraudulent internet activities.

“As a ‘picker’ or ‘azaman’ in internet fraud lingo, investigations revealed that the suspect has collected and laundered over $300,000 (Three Hundred Thousand United States Dollars) for his syndicate members who are at large,” part of the statement reads. 

Aside from internet fraud, the suspect was also involved in a couple of investment and banking frauds and will be charged in court as soon as the investigation is concluded, according to the Commission.

The suspect was arrested on Sunday alongside 35 others at Vigilante Street, off Sabo Ibenafo Road and Back of Yak areas of Auchi, Edo state, where Items recovered from them at the point of arrest include nine cars, eleven laptop computers, 46 mobile phones, and two smartwatches. 

Also Read: EFCC confirms arrest of social media activist VeryDarkMan over alleged ‘grave’ financial crimes.

EFCC’s continued fight against internet fraudsters (yahoo boys)

This latest money laundering case comes on the heels of a similar case where the Lagos division of the agency re-arraigned Alhaji Ahmed Shaw before Justice D.I. Dipeolu of the Federal High Court, sitting in Ikoyi, Lagos, for money laundering. 

The suspect was arrested on March 3, 2025, at the Murtala Muhammed International Airport, Ikeja, Lagos, by operatives of the National Drug Law Enforcement Agency, NDLEA, for non-declaration of the sum of $90,000 and was handed over to the EFCC for further investigations. 

While the reign of cybercrime and money laundering activities has remained a recurring incident that is now perceived as being pandemic, the EFCC further reinstates its commitment to making the Nigerian society a crime-free state. 

While expressing concerns about the rise of internet fraudsters in the country and the ultimate cost, the EFCC Chairman, Ola Olukoyede, stressed that these activities pose a significant threat to national security and Nigeria’s image on the global stage.

The Chairman, while sharing the data in 2024, expressed that “Projections by multiple sources show that the global loss to cybercrime may reach a staggering $10.5tn. The research I did earlier this year confirmed that cybercrime has become the third largest crime in the world, with approximately 2,328 cases occurring daily”, he said

He noted that there are ongoing plans and implementation strategies to curb cybercrime, and he highlighted that the agency is building a cybercrime research centre. Olukoyede also informed that a Rapid Response Desk has been established, which shall receive various cybercrime complaints. 

Also, in its avenue to clamp down on cybercrimes, the Lagos Zonal Directorate 2 of the Commission trained staff on Monday on “Chain of Custody & Data Handling”. The two-part lecture series was designed to provide foundational knowledge in proper evidence handling, documentation, and preservation techniques, critical to maintaining the integrity of forensic documents and digital evidence from the point of seizure to court presentation.

In his remarks, the acting Director of the Lagos division, Ahmad Ghali, added that the training was part of efforts to build the capacity of the Commission’s operatives in case management, and encouraged the participants to apply the knowledge they acquired from the training in their line of duty. 

“The training is designed to better equip you to avoid issues and technicalities that may arise during evidence gathering and handling. It will help you minimise potential issues related to technicalities during investigations and prosecution, thereby ensuring effective case management,” he said.