The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said that about 60 per cent of Nigerian university students are involved in internet fraud.

He made the disclosure on Tuesday during the 8th biennial conference of the committee of pro-chancellors of state-owned universities in Nigeria held in Kano State.

During the event titled “Unlocking the Potentials of Artificial Intelligence: University Governance, Internationalisation and Rankings,” the EFCC boss said findings show a widespread involvement of students in internet fraud, otherwise known as ‘Yahoo-Yahoo’, and other cybercrime offences. 

“My research in the last year has shown that about six out of 10 students in our universities are into cybercrime. It is a very disturbing situation,” Mr Olukoyede said.

He noted that many of the suspects arrested recently were undergraduates, adding that some of them also compromised academic standards by placing lecturers on their payrolls.

He lamented that the development underscores deeper systemic issues, including weak institutional oversight and administrative vulnerabilities within universities.

The EFCC boss also cited a major operation in Lagos, where 792 suspects linked to a transnational cybercrime syndicate were arrested.

He said a significant number of those apprehended were students, adding that the operation was powered by artificial intelligence tools, which exposed the scale and sophistication of cybercrime networks operating both within and outside Nigeria.

He urged university authorities and governing councils to take urgent steps to curb cybercrime by strengthening internal controls and collaborating more closely with law enforcement agencies.

The EFCC boss said many universities still rely on manual processes, making them susceptible to fraud, including ghost workers, inflated contracts, and diversion of funds.

He stressed that a university that lacks financial accountability cannot credibly train future professionals, as the integrity of universities is a matter of national security.

He also charged pro-chancellors to deploy artificial intelligence-driven governance systems to improve transparency, detect fraud, and enhance financial accountability across tertiary institutions.