"Yahoo Yahoo" or internet fraud is a financial crime mainly carried out on the cyberspace by youths commonly referred to as "Yahoo Boys".
Nigerian government's effort to stop the cyber crime overtime seems to be ineffective as the culprits have continued to deploy several means to defraud unsuspecting victims of huge sums of money.
The Economic and Financial Crimes Commission (EFCC) regularly cracks down on the "Yahoo boys" but the the fraudsters seem to be unrelenting; some of them now turn to ritualists to boost their "Yahoo" business.
Surprisingly, some of the fraudsters, and their supporters, have consistently argued that the "Yahoo" business is not a crime. They claim they are into legitimate hustle, using their "brains" to get what they want. Some of them claim it is a form of paying back to the whites (who are usually their victims) for what they did to their forebears during the historic slave trade.
The argument on whether "Yahoo Yahoo" is a legitimate hustle or a fraudulent act resurfaced again recently on Twitter when a popular Nigerian musician, Simi asked the internet fraudsters to stop listening to and promoting the songs of Nigerian artistes.
She said the perpetrators of yahoo yahoo are bringing shame to Nigeria.
Responding to Simi’s statement, Naira Marley, another Nigerian singer, said in a post of his that Yahoo Yahoo is not a crime as anyone who knows the history of slavery would understand.
The singer urged Nigerians to pray for Yahoo boys rather than berate them, claiming they (Yahoo boys) make their money go round.
Marley reiterated that Yahoo boys are the reason why some Nigerians have money to spend because they make money circulate.
What do Nigerians really think about Yahoo Yahoo? A fraudulent act or a legitimate hustle? Legit.ng finds in a poll conducted on social media: Facebook and Twitter.
Out of the over 9,000 that participated in the poll on Facebook, 70% said Yahoo Yahoo is a fraud while 30% believed it is a legitimate hustle.
Similarly on Twitter, 76% of the respondents said believe Yahoo Yahoo is a fraud.
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Legit.ng recently reported that the EFCC arrested five suspected internet fraudsters in a sting operation in Uyo, Akwa Ibom.
Spokesman of the commission, Tony Orilade, in a statement in Abuja on Wednesday, April 3 said that the suspects were Uchendu Denis, Osinachi David, Chikezie Bright, Francis Martins and Okafor Emmanuel.
He said that the suspects were arrested by EFCC personnel of Uyo Zonal Office at Nsini Odeyop Street, Shelter Afrik Estate, Uyo, following an intelligence report.
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