Vice President, Yemi Osinbajo has warned that all Nigerian youths engaging in internet fraud popular referred to as Yahoo Yahoo, will go to jail.
Naija News understands that Osinbajo stated this on Thursday, November 4 while delivering a lecture at the maiden convocation ceremony of Kola Daisi University, Ibadan, Oyo State.
The number two Nigerian citizen cautioned Nigerian youths against engaging in fraudulent activities, saying “what is the point of making money, yet you can’t sleep.”
Osinbajo admonished the youths not to be distracted by gangs of fraudsters popularly called ‘yahoo boys’.
The VP encouraged the youths to access the various programmes set up by the Federal Government and the Central Bank of Nigeria to support young entrepreneurs.
He stressed that many Nigerian youths have made it in life without engaging in any form of fraudulent practices.
He said: “Don’t be distracted by the yahoo yahoo boys that are coming up one day with fancy cars. Their days are numbered.
“They will go to jail one day. The point, of course, is that what is the point of making money when you can’t sleep well at night.
“But you must find out about the support that is available either from the private sector or public sector. For example, the Federal Government has established an N75 billion National Youth Investment Fund. This provides fannancial support for small businesses in any field,” Osinbajo noted.
Meanwhile, the Economic and Financial Crimes Commission, EFCC on Thursday released the chairman of Cubana Group, Obi Iyiegbu, popularly known as Obi Cubana from its custody.
Naija News reports that Cubana was set free hours after the Nigerian anti-graft agency had said it won’t release the socialite until bail conditions are met.
Obi Cubana, who on Monday, November 1 honoured an invite to the office of the EFCC to answer questions bordering on alleged offences of money laundering and tax fraud, was held back by the anti-graft agency.
However, after spending hours defending himself from the agency, Cubana regained his freedom again.