The Chairman of the Economic and Financial Crimes Commission, Olanipekun Olukoyede, has raised fresh concerns over what he described as a growing culture of digital fraud within Nigeria’s university system, warning that the trend poses serious risks to the country’s future workforce.
Speaking at the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities held in Kano, Olukoyede disclosed that recent findings from the Commission’s operations suggest a significant number of undergraduates are actively involved in online financial crimes.
“My research in the last one year has shown that about six out of 10 students in our universities are involved in cybercrime. This is a very disturbing situation,” he said.
According to him, intelligence gathered over the past year indicates that fraudulent internet activities have become increasingly widespread among students, with many suspects arrested during enforcement operations traced to tertiary institutions.
“What we are seeing is no longer an isolated issue. It is becoming a pattern organised, coordinated, and deeply embedded,” he added.
He noted that the situation is evolving beyond isolated incidents, with organised networks emerging and, in some cases, influencing academic environments. The EFCC boss revealed that a recent large-scale crackdown in Lagos led to the arrest of hundreds of suspects, many of whom were identified as students.
“In one of our recent operations, we arrested a large number of suspects, and a significant proportion of them were undergraduates. Some of these individuals are already creating influence circles within campuses,” he said.
Also drew attention to the rise of more complex forms of cyber-enabled fraud, where digital scams are reportedly being combined with ritualistic practices.
“There is a disturbing dimension now what people refer to as ‘Yahoo Plus’where criminal activities are mixed with fetish practices. This is not just about fraud anymore; it is becoming a moral and social crisis,” he warned.
Beyond student involvement, he highlighted systemic governance gaps within some universities, pointing to issues such as payroll irregularities, procurement abuse, and weak financial controls.
“A university that cannot manage its own finances transparently cannot be expected to produce graduates with integrity,” he said. “The integrity of our universities is a matter of national security.”
To address the challenge, Olukoyede called for the integration of advanced technologies, including artificial intelligence, into university administrative systems.
“We must embrace technology. Artificial intelligence can help detect fraud in payroll systems, procurement processes, and auditing.
But it must be deployed within proper legal and ethical frameworks,” he stated.
He explained that while the Commission already deploys digital tools in investigations, including forensic analysis and transaction tracking, sustainable results would require universities to adopt similar innovations alongside stricter human oversight.
“Technology alone is not enough. There must be accountability, there must be supervision, and there must be consequences,” he said.
The EFCC chairman further urged institutions to prioritise cybersecurity education, upgrade digital infrastructure, and deepen collaboration with anti-corruption agencies.
“We need to build a culture of digital responsibility among our young people. Universities must not only educate they must also shape values,” he added.
Stakeholders at the conference agreed that a coordinated response involving policy reforms, institutional strengthening, and student reorientation would be critical in reversing the growing influence of cybercrime within Nigeria’s higher education system.