Ola Olukayode, the Chairman of the Economic and Financial Crimes Commission (EFCC), recently highlighted the severity of cybercrime by sharing how internet fraudsters, locally known as Yahoo Boys, drained N7.2 million from a serving judge’s bank account late at night. During a book launch held for Justice Alaba Omolaye-Ajileye, Olukayode recounted receiving an urgent call from the judge, who realized her savings for her child’s education were disappearing through a series of unauthorized debits.
The EFCC successfully recovered the full amount before the end of the day. Olukayode noted the irony, as this specific judge had previously been involved in cases limiting the commission’s investigative powers, suggesting that experiencing the crime firsthand changed her perspective on the necessity of the agency’s work. He emphasized that unified action from the judiciary, law enforcement, and citizens is vital to ending financial crimes.
Addressing the future of investigations, the EFCC head expressed a need for legislative updates regarding the use of Artificial Intelligence. He noted that while the agency uses AI, current legal frameworks, specifically Section 84 of the Evidence Act, lack clarity on the admissibility of evidence generated by autonomous digital tools. He urged lawmakers to modernize these laws to better support investigators.
The event also featured calls from prominent legal figures. Chief Kanu Agabi, a former Minister of Justice, urged the government to prioritize the recovery of stolen public funds hidden in foreign accounts. Additionally, former Body of Benchers Chairman Wole Olanipekun pushed for more rigorous application of cybercrime legislation, while DSS Director-General Tosin Ajayi argued that securing more convictions is the most effective way to discourage criminal behavior.
