The Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ola Olukoyede, has said that poor parenting and neglect at home are major reasons why many Nigerian youths are getting involved in financial crimes.

Speaking in Kaduna on Friday, September 19, 2025, at the Armed Forces Command and Staff College, Olukoyede—represented by Assistant Commander of the EFCC, Bawa Usman Kaltungo—explained that children who lack care and guidance at home often become vulnerable to crime.

He pointed out that issues like poverty, ignorance, abandonment of family duties, and drug abuse all play a role in weakening family support. This, according to him, makes it hard for children to get the emotional, mental, and financial support they need.

Olukoyede stressed that broken homes and family problems directly affect young people, sometimes pushing them into cybercrime and other illegal activities. He suggested that the solution requires a multi-dimensional approach, including family support, mentorship, and youth programmes like sports that can engage young people positively.

He also revealed that some university students caught for internet fraud usually blame their actions on financial difficulties and lack of family support.

Olukoyede praised the Federal Government’s decision to set up the Nigeria Education Loan Fund (NELFund) with N50 billion recovered by the EFCC from criminal proceeds. He said the fund would ease financial burdens for students and reduce the temptation to engage in fraud.

To prevent crime, he highlighted EFCC’s reorientation programmes such as the EFCC Integrity Club in primary and secondary schools, the Zero Tolerance Club in tertiary institutions, the EFCC/NYSC CDS Group for corps members, and the National Cybercrime Summit. These, he said, are designed to guide young people away from financial crimes.