EFCC Chairman Reveals How Internet Fraudsters Drained a Judge’s Six-Year Savings in Midnight Cyber Heist

The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has highlighted the pervasive threat of online fraud in Nigeria, citing a striking case in which suspected “Yahoo boys” (internet fraudsters) emptied over ₦7.2 million from the bank account of a serving judge in a single night.

Speaking at the public presentation of two books authored by a retired High Court judge, Justice Alaba Omolaye-Ajileye, in Abuja on July 3, 2026, Olukoyede recounted how a female judge was awakened around 1:00 a.m. by multiple debit alerts. Before the judge could intervene, fraudsters had withdrawn approximately ₦7.2 million; funds she had painstakingly saved over six years specifically for her child’s education.

The EFCC chief described the incident as a stark example of the growing sophistication and boldness of cyber fraudsters. The judge promptly contacted him for assistance despite challenges, including a court order that had previously restricted probes in his jurisdiction. According to reports, the EFCC team acted swiftly, tracing and recovering the full amount by 6 p.m. the same day.

Olukoyede used the anecdote to underscore broader challenges in combating cybercrime, noting that such incidents affect all segments of society, including high-profile individuals. He emphasized the need for stronger collaboration among law enforcement agencies, the judiciary, banks, and the public to curb the menace.This revelation comes amid the EFCC’s ongoing efforts against economic and financial crimes. In the previous year, the agency reported 3,175 convictions and recoveries totaling around ₦156 billion, though officials continue to stress that losses from fraud significantly outpace recoveries in many cases.

The incident has sparked discussions online about banking security, the vulnerability of digital transactions at night, and the urgency of multi-factor authentication and real-time fraud monitoring by financial institutions.
Authorities continue to urge Nigerians to remain vigilant against phishing, unauthorized access, and social engineering tactics commonly used by fraudsters. The EFCC has reiterated its commitment to pursuing perpetrators while calling for systemic improvements in the financial sector.