EFCC Warns Landlords: Rent House To ‘Yahoo Boys,’ Risk 15-Year Jail Term

The Economic Financial Commission (EFCC) has issued a severe warning that landlords may risk 15 years in jail for renting houses out to “Yahoo boys.”

The Commission made this known ahead of its next edition of its public conversation series tagged, “ #EFCCConnect,” which has been scheduled to be held by 6pm on Twitter Space on Wednesday, June 29th 2022.

The commission’s Deputy Director, Legal and Prosecution, Sylvanus Tahir and Assistant Director, Legal and Prosecution, Cosmos Ugwu will be speaking on the topic, “Give your house to Yahoo boys, spend 15 years in jail” at the forum.

Gentechnews gathered that the EFCC had repeatedly warned house owners and commercial real estate agents against making properties available to cyber criminals and fraudsters.

The EFCC Chairman, Abdulrasheed Bawa, earlier met with hotel owners in Ilorin, the Kwara capital to sensitize the hospitality business community on how to work with the Commission to tame the tide of cybercrimes.

EFCC Zonal Commander, Michael Nzekwe has also  expressed concern about what he designated as the “cold complicity by hospitality entrepreneurs.”

Nzekwe accused some of the hotel owners of working with suspected fraudsters by housing them over a long period and making internet facilities available.

The EFCC official explained that the act negates Section 3 of the Advance Fee Fraud and Other Fraud Related Offenses Act, 2006.

Nzekwe said, “The section provides for a prison term of between five and 15 years without option of fine for any person who permits his premises to be used for any offense under the Act.”

He further stated that the law doesn’t recognise the position that hoteliers are business people and cannot determine who is a fraudster.

The EFCC had also warned hoteliers to always request from their customers means of identification and to include their occupation during the check-in procedure.