Poor Parenting Driving Youths’ Involvement In Financial Crime-Olukoyede

The Executive Chairman of Economic and Financial Crimes Commission, EFCC, Mr. Ola Olukoyede has attributed youths’ involvement in economic and financial crimes to parenting failures and neglect by members of the family unit.

He made the observation in Kaduna on Friday, September 19, 2025 at the Armed Forces Command and Staff College, while speaking on “Family Neglect and Youth Involvement in Economic Offences.”

Speaking through the Acting Director of the Kaduna Zonal Directorate of the EFCC, Assistant Commander of the EFCC, ACE I Bawa Usman Kaltungo, he stated that “Family neglect impacts dire consequences on the lives of young people, including increased exposure and vulnerability to financial and economic crimes. By addressing the root causes of family neglect and providing support services, education and job opportunities, we will be working towards reducing youth involvement in economic and financial crimes and promoting ethical behaviours in young people”

“The neglect can arise as a result of poverty, ignorance, deliberate abdication of responsibility, drug abuse or addiction and manifests in the failure of members of a family unit in providing adequate emotional, psychological and material support to children or dependants.”

Speaking further, he noted that “The nexus between family dysfunction and youth criminality is one that calls for a multi- dimensional approach in both the diagnosis of the negative outcomes and the adminstration of the required therapies,” adding that “provision of family support systems, youth mentorship and sporting programmes could be handy in providing avenues for talent development and alternative ways of harnessing positive energies of young people.”

While affirming his commitment to reducing youth’s involvement in economic and financial crimes and to the promotion of ethical behaviours in young people, he regretted that some students of tertiary institutions, arrested by the Commission for their involvements in internet fraud often cite inadequate financial support from their families as reason for their actions.

“On numerous occasions, some students of tertiary institutions whom we arrested following credible intelligence that exposed their involvements in internet fraud, would often plead they are indigent students who are self-financing their education and that their involvement in the crime followed the inadequacies of their lean financial strength,” he said.

He praised President Bola Tinubu’s government for intervening in the direction of student’s financial need with the Nigeria Education Loan Fund, NELFund, drawn from EFCC’s proceeds of crime.

“The Economic and Financial Crimes Commission, EFCC is happy and proud that N50 billion seed capital of NELFUND was drawn from the Commission’s recovered proceeds of crime. Our preventive mandate aligns with any lawful action or policy that would take our youths away from the path of economic and financial crimes,” he said.

He highlighted the preventive and reorientation programmes of the Commission, designed to shield young people and the youth demography from financial and economic crimes to include EFCC Integrity Club, which is a ”catch them young ” anti- corruption social engagement for primary and secondary school students; Zero Tolerance Club for tertiary institutions and EFCC/NYSC CDS Group for members of National Youth Service Corps, NYSC and the yearly National Cybercrime Summit of the Commission, which addresses the problem of youths’ involvement in internet fraud.