Behind the opulent lives displayed by internet fraudsters lies a different reality of the lives of Yahoo boys or G-boys, slowly falling apart under growing debts and constant pressure, writes IBRAHIM ADAM
Under the scorching Lagos sun, beneath a busy overhead bridge, Akinjobi Kamal (not his real name) bends over a mound of sand, carefully mixing it with cement.
His hands looked rough, his clothes heavy with dust and sweat. To most passers-by, he is just another labourer struggling to earn a daily wage. But only a few would imagine that this same man once commanded attention wherever he went.
There was a time when Kamal was considered “expensive” to see. He was wealthy, flamboyant and widely known within certain circles as a successful internet fraudster.
He moved with an entourage, cruising in exotic cars, spending lavishly and living a life many young people quietly admired.
Nightclubs welcomed him with excitement. Strangers measured his worth with the sparkle of his jewellery and his luxury sport utility vehicles.
Yet, beneath the glitter and curated lifestyle, lay a life no one truly understood.
Today, the fame is gone, the applause is silent, and what remains is a man facing the consequences of a life once celebrated.
From campus life to cybercrime
The former student of Olabisi Onabanjo University, Ago-Iwoye, Ogun State, Kamal told Sunday PUNCH that his journey into cybercrime began long before his admission into the institution, where he worked with friends in the neighbourhood to make what he described as little money.
However, his admission into the university exposed him to greater dangers.
According to him, the campus environment was tense with different cult groups mounting pressure on him to join. The constant and frightening threats led him to join one of the groups in search of a safer environment.
Kamal disclosed that he initially convinced himself that joining a cult group was only for protection. But the illusion quickly faded as he became exposed to a lifestyle that changed his values and ambitions.
“I did not complete my education because I dropped out in 2018, during my 300 level, after a serious cult clash with a rival cult group. I did not feel safe, and in an attempt to protect myself, I made a decision that later ruined my life.
“There were extremely wealthy members. They spent money freely both on and off campus. You would always see them with different girls, expensive cars and expensive clothes. That lifestyle attracted me a lot,” he said.
He frequently reflected on how his fellow members were remarkably wealthy, despite still being students.
Those thoughts, he said, pushed him deeper into cybercrime and away from his studies.
“I started skipping classes. I began making a lot of money as a yahoo boy, and suddenly, life felt easy,” Kamal said.
Behind the images of wealth that Kamal projected to the public was a life weighed down by exhaustion, anxiety and relentless pressure to maintain relevance.
“People only saw the enjoyment. They did not see the struggles behind it. The sleepless nights alone were exhausting. We went clubbing frequently and spent money carelessly. In a single night, I could spend N7m as a student simply because the money was available.
“Some of them spent between N15m and N20m whenever we went out. We sometimes leave Ago-Iwoye for clubs in Ikeja, Ikorodu and Lagos Island in Lagos State just to feel important and have fun. On the surface, the lifestyle looked glamorous, but in reality, it was draining and empty,” he said.
The unseen collapse
Despite his wealth, Kamal noted that his private life was filled with financial instability and emotional distress – a reality he carefully concealed to protect an image he could no longer afford to lose.
Social media, he said, became a prison where constant performance was necessary to avoid suspicion of decline.
“People never see the moments when everything falls apart. The people are only concerned about your money and nothing else. There was a time I was completely broke, yet I continued posting pictures online. I wanted to remain relevant because once you stop posting, people assume you no longer have anything,” he said.
As his income declined, Kamal said he began selling off his prized possessions just to sustain appearances and meet expectations from those around him.
“At a point, I had to sell two of my Mercedes-Benzes just to maintain relevance, and I retained the third car. Social media created an image that was far from my real situation. I really suffered. Life was tough for me during that period, but I was able to overcome it,” he said.
Paying for freedom
Kamal disclosed that his wealth did not bring security but exposed him to repeated encounters with law enforcement agencies.
He said each episode demanded heavy financial sacrifices to avoid arrest.
“Another aspect people do not know about is my struggle with operatives of the Economic and Financial Crimes Commission. I had to make payments on two different occasions, in 2019 and 2020. The first time, I paid N10m in Ogun State and the second time, N25m in Lagos. If I had not paid that money, I am certain that my people and I would have been arrested and would likely be behind bars today,” he said.
He added that police arrests were equally frequent and financially draining.
“We were also arrested by the Police several times, and on those occasions, I paid between N3m and N5m to regain our freedom,” Kamal said.
As the pressure to fund an extravagant lifestyle intensified, Kamal said he slipped into debt, humiliation and eventual loss of assets.
“There were also days where I had to go on debt at the clubs and at the end of the day, one of them had to seize my Lexus jeep because of the money I owed them,” he said.
He explained that even his closest relationships were strained by unpaid debts and financial collapse.
“I owed two of my friends, too, but they later told me to forget it because of the good old days. I couldn’t pay for my rent at one point until I started selling my belongings, and the only thing left was the mattress. I really went through hell all because I wanted to live a good life,” Kamal said.
Spiritual pressure and consequences
With expectations mounting and income becoming unpredictable, Kamal said he turned to spiritual intervention in a desperate bid to sustain wealth.
“It reached a point where I was taken to a traditionalist in Ijebu. After everything the baba did for me, I had money in excess, far beyond what I asked for. That experience taught me a painful lesson. Whatever you ask for from the devil, you will get it. But it always comes with consequences,” he said.
According to him, the eventual collapse was total, stripping him of wealth, identity and dignity.
“I did many terrible things. Today, I am a labourer who mixes sand and cement to make blocks. I once believed I was living a perfect life, and now look at my end,” he recalled.
Kamal dismissed the idea that his years of illicit wealth brought peace and stability, describing a life dominated by fear, responsibility and emotional emptiness.
“Did I hear you say peace and stability? There was no peace or stability, my brother with that type of money. I can’t tell you more than this. Let us leave it the way it is now,” he pleaded.
He explained that as the money increased, so did demands from family, friends and associates, leaving him constantly burdened.
Broken relationships
Kamal said the long-term effects of his lifestyle are reflected in strained family relationships and social isolation.
“It damaged my relationships so much. Today, I have nothing except what I earn from this small work.
None of my former friends wants to see me again. My mother is deeply disappointed in me,” he said.
He added that betrayal from those he once supported has been one of the most painful outcomes.
“The same people I gave money to, bought phones for and bought cars for now avoid me completely. I have learned my lessons, and I would not wish this experience on anyone,” he said.
Reflecting on the past, Kamal described his involvement in cybercrime as a tragic waste of his youth and ambition.
“I can say I wasted the best years of my life, especially the ambition of being a medical doctor. If I had known I would end up like this, I would never have joined the scamming business. I lost everything, including my family, my friends, and my future,” he said.
When the night comes alive
Our correspondent visited several nightlife locations in Egbeda, Ikorodu, Ikeja, Surulere, and Lagos Island. Between 8:00 pm and 12:00 midnight, most of the clubs were not yet crowded.
Only a few customers were present, seated in different areas. Hype men moved around, doing their jobs to keep the atmosphere lively while customers placed their orders.
However, between 12:30 am and 2:00 am, a different group of people began to arrive at the clubs. They came in large numbers, driving luxury cars, often accompanied by women.
Many of them are known to be involved in cybercrime. They entered the clubs in groups as hype men loudly praised and announced their arrival.
Once seated, they ordered large quantities of champagne, liquor and wine. Their drinks were often served by specially assigned female attendants, some of whom were dressed in revealing outfits and sometimes covered parts of their faces. In some cases, drinks were served in special containers they referred to as “caskets.”
Naira of different denominations were sprayed freely around the club. Some of the drinks were opened and poured on wristwatches, on their companions and even on themselves.
Fraudsters now linked to banditry, kidnapping
In reports by The PUNCH, the EFCC Chairman, Ola Olukoyede, disclosed that internet fraudsters have expanded their criminal activities to include banditry and kidnapping when they are unable to find victims to defraud.
Olukoyede said the development represents a dangerous escalation beyond online fraud, warning that their activities have brought national shame and deepened insecurity across the country.
He made the remarks during a media briefing at the commission’s headquarters in Abuja, where he described internet fraud as a growing crisis with far-reaching consequences for the nation.
According to him, their actions have subjected Nigerians travelling abroad to suspicion and intense scrutiny by immigration officials worldwide.
Olukoyede said the damage goes beyond reputational harm, stressing that some internet fraudsters now resort to violent crimes when their scams fail.
The EFCC chairman also disclosed that internet fraudsters are being used as financial conduits by politically exposed persons to launder stolen public funds.
“I want Nigerians to know that we are having a crisis on our hands. If you travel abroad with your green passport and stand in the queue among so many people, you will discover that by the time you present the passport, the people will look at you with some reservation. That is a national shame that some young Nigerians have caused us.
“The most dangerous aspect of it is not just about yahoo-yahoo. Some of these guys are into banditry and kidnapping. When they don’t see people to scam on time, they resort to these vices. Some of them launder money for politically exposed persons. Don’t just see them as yahoo-yahoo boys anymore; the traditional way of stealing money is not applicable anymore,” he said.
He added that investigations have shown that some young fraudsters, with no legitimate source of income, handle massive financial transactions on behalf of corrupt officials.
“We arrested a 22-year-old who had a turnover of over N5bn within 18 months. We discovered that he laundered money for politically exposed people. You see secondary school students driving vehicles. Are those the people we want to hand Nigeria over to? Is that the nation we want to build?” he asked.
‘Academic downturn’
A former student of the Federal University of Technology, Owerri in Imo State, Chinonso Nwabueze (not his real name), has shared an account of his involvement in internet fraud.
He described it as a decision rooted in frustration, misplaced ambition, and the pressure to measure up to his peers.
Nwabueze told Sunday PUNCH that his experience began in 2020 after the Academic Staff Union of Universities strike was called off, a period that also coincided with the COVID-19 pandemic.
According to him, returning to campus after the long shutdown was unsettling, as he met friends who appeared financially successful and were associated with luxury cars, particularly Mercedes-Benz.
“I am no longer into that hustle, but I have done it before. It all started when the Academic Staff Union of Universities’ strike was called off in 2020, which was also during the COVID-19 period. I returned to school and saw my friends with cars.
“Mercedes-Benz was what they were mostly associated with. I became angry because I had put all my energy into my academics, and yet I had nothing to show for it,” he said.
Nwabueze explained that his frustration soon affected his commitment to school. He stopped attending classes and joined a friend in what they referred to as “bombing,” the term they used for the activity.
He said his friend introduced him to the process and advised him to begin on Instagram as a starting point.
He described the method they used, explaining that they created accounts using the identities of foreign women, often with half-nude photographs to attract attention.
“We created an account using the identity of a foreign female, with half-nude pictures. We then started chatting people up, and both males and females would respond,” he said.
As time went on, he said he practically abandoned his studies in pursuit of money and spent more time with his friend’s associates.
Nwabueze recalled that they frequently met in hotels and clubs, where they ate, smoked and socialised.
He said one behaviour that stood out was their refusal to sleep at night.
Curious about this pattern, Nwabueze said he asked his friend for an explanation and was told that rituals had been introduced into the activity and sleeping at night would mark the end of everything.
“One thing that struck me about these people I met all the time was that they did not actually sleep at night. I had to ask my friend why, and he told me that they had added rituals to the hustle. According to them, the moment they slept at night, that would be the end of it all,” he said.
During this period, his academic performance declined sharply.
He noted that he had a 4.11 CGPA before his involvement, but watched it deteriorate as his focus shifted away from school.
After more than a year, Nwabueze said he decided to retrace his steps because he had not made any money from the fraud.
By the time he made that decision, he said the damage to his education was already irreversible.
He eventually graduated with a 2.2 CGPA, a result he directly linked to his involvement in internet fraud.
Although he said many of his friends are still actively involved, his exit did not bring financial stability.
He admitted that he wrote examinations for some of them for money and helped them graduate with third-class degrees.
“I had a 4.11 CGPA, and I watched it sink. My friends are still very much into it. When I stopped, I started writing exams for them just to see some money enter my account. I helped many of them graduate. Their grades were so bad that some of them graduated with third class. That is one of the effects of Yahoo,” he said.
While acknowledging that his friends still “cash out” frequently, he said he could not clearly identify what the money had been used for.
“I regret my actions, and I would not advise anyone to engage in it. It is a waste of time and energy,” he added.
EFCC unveils cybercrime research centre
Speaking with Sunday PUNCH, EFCC spokesman, Dele Oyewale, disclosed that the commission is developing a Cybercrime Research Centre as a platform to provide alternatives to cybercrime for young people.
Oyewale explained that while the commission is not mandated to rehabilitate convicts, but seeking practical ways to redirect youths away from internet-based offences.
“Our mandate as EFCC does not empower us to rehabilitate convicts. However, we have a modality through which we are trying to offer alternatives to cybercrime. We believe that there are alternatives to cybercrime, and we are pursuing this through the Cybercrime Research Centre that the commission is developing.
“The Research Centre will provide our young people with opportunities to put their talents to work. They can develop numerous socially beneficial applications and innovations that could change the trajectory of the entire world. We believe that by fully engaging our youth in this area, they can develop numerous internet-based solutions to meet the needs of our nation and the entire world,” he said.
He emphasised that the Centre is meant to reduce the lure of criminality by engaging youths in productive activities and highlighted the potential benefits of youth engagement.
“We believe that it is not enough to simply tell youths, ‘Do not indulge in cybercrime’ or ‘Do not involve yourself in internet-based offences.’ That is why we are providing alternatives. This is a practical way of confronting the challenges of internet crime, which has become a pandemic. Our youth often see it as a shortcut, but criminality cannot lead to prosperity. No, it cannot,” Oyewale added.
Survival not ambition
At 24, Kelechi Ikenna (not his real name) never imagined that his university years would be shaped by survival rather than aspiration.
A former student of the University of Nigeria, Nsukka, Enugu State, Ikenna was still in his first year when a family crisis pushed him into cybercrime, a path he insisted was never a deliberate choice.
His decision, he said, was driven by the urgent need to keep his family afloat. As the last-born child, he watched his father’s health deteriorate while the household’s income vanished.
Speaking to Sunday PUNCH, Ikenna said the situation left him with little room to hesitate.
Those years, he explained, were a constant struggle to balance school, survival and family responsibility, with medical bills dictating every decision.
“My father was diabetic, and there was no steady income to support his dialysis. I used everything I earned for his treatment. I was in my 100-level then, and that was how it started. Each dialysis session costs N100,000 and is done twice a week. Under those circumstances, I had no other option,” he said.
Despite the wealth associated with the lifestyle, Ikenna said his reality is far from public perception.
“People should not believe everything they see online. I live quietly. I don’t dress or live the way people assume. I’m just managing myself,” he said.
Behind his flawless social media posts, he battles the overwhelming weight of depression.
“People don’t see the losses, the confusion, or the self-doubt. Many think we don’t realise time is being wasted, but we do. At times, it all weighs on me and leaves me deeply depressed,” he said.
The death of his father marked a painful turning point. While it ended the financial pressure of medical bills, it left lasting emotional scars.
When asked if the money brought him peace, Ikenna was firm with his response.
“My father is gone, so that pressure is no longer there. But the money has not given me peace. Anyone who says it has is lying. How can you have peace when you can’t sleep at night?” he asked.
He added that his mental health struggles have affected his relationships with family and friends.
Reflecting on his past, Ikenna avoided harsh self-judgment, pointing instead to life’s uncertainty.
“Nothing is promised in life. You can’t know if things would have turned out differently if another path was taken,” he said.
His experience, he said, reshaped his understanding of fulfilment and insisted that he is willing to leave cybercrime if he finds a viable alternative and a clearer sense of purpose.
“Money is never enough. You eventually realise you need to dedicate yourself to something more meaningful. There is dignity in labour. Of course, I want to leave. The problem is whether there is something else to do. Until I find real purpose, I will continue,” he said.
On allegations of fetish practices linked to internet fraud, he firmly denied involvement, but recalled a single attempt as a student that yielded no result.
“I did not want to go down that route. I bought a wristband from a woman for N40,000, but it didn’t work,” he added.
Expert warns of mental health risks
A psychotherapist and emotional intelligence expert, Jacob Michael, has warned that the growing culture of projecting luxury while struggling internally is causing serious psychological harm, including anxiety, burnout and loss of identity among affected individuals.
Michael, who is also a Mind Therapist, said people who live such double lives often appear confident in public but privately battle fear, pressure and emotional instability that can lead to mental breakdown.
He explained that the strain begins with what he described as a conflict between reality and performance.
“When a person lives a double life, especially one where they project success online and offline but internally face fear and financial instability, the psychological strain is enormous. The individual is constantly shifting between who they truly are and the persona they must perform,” he told Sunday PUNCH.
Michael noted that constant alertness, which he called chronic hypervigilance, is another major consequence.
“They are always monitoring threats and calculating risks. This keeps the nervous system in an elevated state and can lead to anxiety, paranoia and sleep problems,” he said.
He added that secrecy often leads to emotional isolation, “When people cannot share their real struggles, they lose genuine support and begin to rely on the illusion of success for validation.”
He also highlighted the emotional costs of fast and illegal money, noting that persistent anxiety, guilt and identity confusion often worsen when the money and public attention fade.
“Even when they appear calm, there is a constant fear of being caught or exposed. When the money stops, the person often experiences identity collapse. They built their sense of self around wealth and admiration, so its loss leaves them feeling empty,” he said.
On solutions, Michael stressed the importance of self-awareness, meaningful purpose and professional support.
“Psychotherapy helps rebuild self-worth and process guilt and anxiety. Real recovery comes from rebuilding identity and values, not just stopping risky behaviour. When people replace the pursuit of superficial wealth with goals that align with their values, skills, and passions, they experience real fulfilment instead of short-lived excitement. This could be through legitimate business, creative work, or personal development.
“Surrounding oneself with honest, supportive people fosters accountability, reduces isolation, and helps maintain the changes. In short, the solution is not just stopping risky behaviour. It is about rebuilding identity, values, and habits so that success becomes sustainable, meaningful, and healthy,” he added.
Shortcuts to wealth damage social values
A life coach and a sociologist, Chidinma Nkwocha, dismissed claims that the fraudster’s lifestyle offers genuine social mobility.
“To be honest, their lifestyle is an illusion. The few who succeed might flaunt their gains, but the risks are high, and the consequences can be devastating. Real social mobility comes from education, hard work and opportunities, not shortcuts,” she told Sunday PUNCH.
Nkwocha, who is also the Founder of CAS Consult Nigeria Limited, said social pressure, unemployment, and inequality significantly shape such choices.
She explained that these factors combine to push young people towards alternatives they believe can deliver fast financial rewards.
“These factors are like fuel to the fire. When inequality is high and opportunities seem scarce, people look for alternatives. Social pressure from peers and the media can make fraud seem like a viable option, especially if it means achieving financial stability or success quickly,” she said.
Nkwocha noted that family background, peer influence and the immediate environment play a crucial role in shaping how young people define wealth and success.
She warned that the long-term effects of internet fraud extend beyond individuals and pose serious risks to communities and social trust.
“The long-term effect is damaging, honestly. When trust is broken, it’s hard to rebuild. Communities suffer as people become more guarded and less willing to engage with each other or institutions. It can lead to a breakdown in social cohesion and make it harder for genuine economic development,” she said.
Wealth is temporary
The General Superintendent of Holy Spirit Mission, Bishop Charles Ighele, has warned that chasing money without moral or spiritual values can have eternal consequences, emphasising that wealth is temporary.
Speaking with Sunday PUNCH, Ighele said there are three major sources of wealth, which are God, human knowledge, and demonic influence.
According to him, God remains the primary and most legitimate source of wealth, noting that divine ideas often lead to lasting prosperity.
“In the Bible, you see someone like Jacob. Through a dream, God gave Jacob an idea, which he implemented, and it made him wealthy. The Bible says it is God who gives you the power to get wealth. So, the Spirit of God can give people ideas on what to do to get wealth. Even the richest man who ever lived, Solomon, said all is vanity. Everybody will die one day,” he said.
Traditionalist condemns ritual-backed fraud
A traditionalist in Lagos, Wahab Ajisafe, warned against the growing association between ritual practices and internet fraud, describing the trend as a sign of moral decay with grave consequences for those involved.
Ajisafe cautioned that both perpetrators and those who support such activities would face severe repercussions.
“Engaging in rituals is a terrible act. When ritual practices are combined with stealing, it clearly reflects bad character. Even the idea of it reveals who a person truly is, even before meeting the traditionalists who assist them,” he told Sunday PUNCH.
He explained that the damage caused by internet fraud extends far beyond financial loss, noting that
victims often suffer in silence while struggling to sustain their livelihoods.
“The repercussions are severe because the money obtained through internet fraud is not given willingly. It is acquired through deception and false pretences. Victims may not always speak about their experiences, but they suffer greatly while trying to survive. This desperation is one of the reasons we now see fraudsters involving humans in ritual practices,” he said.
Ajisafe urged young people to abandon criminal activities and embrace honest labour, stressing that legitimate work remains a viable option regardless of personal circumstances.
He also warned traditionalists who encourage or profit from such acts, stating that they, too, would face consequences.
“Please, stay away from rituals and learn a legitimate trade. It is not too late. They have hands and strength; why not work honestly? As for the traditionalists who support them, they will also face consequences. Instead of advising against these acts, they choose to collect money from fraudsters and promote wrongdoing. As for me, I cannot help any fraudster because I know they are stealing from others,” he said.
