The Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, has disclosed that the agency recovered N7.2 million stolen from the bank account of a serving judge by suspected internet fraudsters, popularly known as Yahoo boys, within hours of the incident.
Olukoyede made the revelation on Thursday during the public presentation of two books authored by retired High Court judge, Justice Alaba Omolaye-Ajileye.
According to him, the judge contacted him around 1 a.m. after receiving multiple debit alerts indicating that funds had been withdrawn from her account.
He explained that the stolen money had been painstakingly saved over six years to finance her child’s education.
Olukoyede said, “She had just been scammed of the money she had been putting together for six years to send her child to school.”
The EFCC chairman disclosed that although the judge initially hesitated because the incident occurred in a state where the commission had been restrained by a court order from investigating certain financial crimes, she later urged the anti-graft agency to intervene urgently.
Quoting the judge, he said, “No, no, no! This is an exception. You must do something immediately!”
He said the commission immediately swung into action and successfully traced and recovered the entire N7.2 million before the close of business on the same day.
“Before 6 p.m., we recovered the entire money for her,” Olukoyede stated.
The EFCC boss said the incident underscored the growing threat posed by cybercrime, stressing that many Nigerians only appreciate its devastating impact after becoming victims.
“When you become a direct victim, that is when you’ll know that something has to be done,” he said.
Olukoyede called for stronger collaboration among security agencies, the judiciary and members of the public to combat financial and cyber-related crimes more effectively.
He also urged the National Assembly and legal experts to review Nigeria’s legal framework to accommodate the use of artificial intelligence in criminal investigations and prosecution.
According to him, the country’s existing laws make it difficult for AI-generated evidence to be admitted in court.
“I wish our legislators and professors of law will take time and come together to look at this area and come up with laws that will help us in the area of AI,” he said.
Also speaking at the event, former Attorney-General of the Federation and Minister of Justice, Kanu Agabi (SAN), urged anti-corruption agencies to intensify efforts to recover public funds allegedly stashed abroad by corrupt officials.
The event featured the launch of two books written by retired High Court judge, Justice Alaba Omolaye-Ajileye, with participants highlighting the need for stronger legal and institutional frameworks to tackle emerging financial crimes.
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