Nollywood actor Ugo Nwokolo has sparked debate after claiming that internet fraud, popularly known as “Yahoo,” has helped keep Nigeria’s economy afloat amid worsening economic conditions and the rising cost of living.
Nwokolo made the remarks during a video interview circulating on social media, where he linked the increasing cost of housing and other living expenses to the country’s economic challenges.
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According to the actor, many legitimate income earners, particularly civil servants, can no longer afford accommodation in major cities such as Abuja and Lagos because of soaring rents.
He questioned how workers earning between N50,000 and N90,000 monthly could afford houses with annual rents running into millions of naira.
“Personally, I think Yahoo has helped keep the economy afloat. Do you expect a civil servant to afford house rent of N3 million or N5 million in Abuja?” he said.
Nwokolo further argued that the high cost of accommodation had effectively priced out many low-income earners.
“If you go to Lagos now, the least you’ll see for a two-bedroom apartment is about N7 million or N8 million. Who is supposed to afford it? The civil servants? Of course, it’s the fraudsters,” he added.
The actor, however, maintained that he was not endorsing internet fraud or any other criminal activity.
He said his comments were intended to highlight the harsh economic realities confronting many Nigerians.
“I’m not justifying crime, but yes, Yahoo is helping the economy. How do you expect people to live in this kind of economy?” he said.
The remarks have generated mixed reactions on social media, with some users criticising the comments as appearing to legitimise criminal activity, while others interpreted them as a reflection of the economic pressures facing many Nigerians.
Internet fraud remains a criminal offence under Nigerian law, and agencies such as the Economic and Financial Crimes Commission (EFCC) continue to prosecute individuals involved in cybercrime.
