Nollywood actor Ugo Nwokolo has sparked widespread debate after claiming that internet fraud, popularly known in Nigeria as “Yahoo,” has contributed to keeping the country’s economy afloat amid worsening economic hardship.
The actor made the controversial remarks during a video discussion in which he reflected on the rising cost of living, soaring house rents and the financial struggles faced by many Nigerians.
According to Nwokolo, the country’s economic realities have made it increasingly difficult for ordinary workers, particularly civil servants, to survive on their monthly earnings.
He argued that salaries ranging between ₦50,000 and ₦90,000 are no longer sufficient to meet basic living expenses, especially in major cities such as Abuja and Lagos where accommodation costs have risen significantly.
“Personally, I think Yahoo has helped keep the economy afloat,” he said.
“Do you expect a civil servant to afford house rent of ₦3 million or ₦5 million in Abuja?”
His comments have generated intense reactions online, with many Nigerians disagreeing with his position while others pointed to the country’s difficult economic conditions as the broader issue behind the debate.
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Rising cost of living
During the discussion, Nwokolo questioned how low-income earners could realistically cope with the country’s rising living expenses.
He argued that housing costs in cities such as Lagos have become unaffordable for many workers.
“If you go to Lagos now, the least you’ll see for a two-bedroom apartment is about ₦7 million or ₦8 million. Who is supposed to afford it? The civil servants?” he asked.
According to the actor, Ugo Nwokolo, only individuals with substantial financial resources appear capable of paying such rents.
He suggested that this has contributed to public perceptions about who can comfortably afford luxury lifestyles in the current economy.
“I’m not justifying crime”
Although his comments appeared to defend the economic impact of internet fraud, Nwokolo repeatedly stated that he was not endorsing criminal activity.
Instead, he argued that the country’s economic hardship has created conditions where many people struggle to survive.
“I’m not justifying crime,” he said.
“But yes, Yahoo is helping the economy. How do you expect people to live in this kind of economy?”
His remarks have since gone viral across social media platforms, triggering mixed reactions from Nigerians.
Mixed public reactions
Some social media users criticised the actor, arguing that internet fraud damages Nigeria’s international reputation, discourages legitimate investment and causes financial losses to victims around the world.
Others said that while Nigeria’s economic challenges are real, criminal activities cannot be presented as a solution.
A smaller number of commenters argued that Nwokolo was highlighting the desperation many young Nigerians face rather than encouraging cybercrime itself.
The debate has once again drawn attention to youth unemployment, inflation, rising living costs and the economic pressures affecting millions of households across the country.
Nigeria’s fight against internet fraud
Over the years, Nigerian authorities have intensified efforts to combat cybercrime through investigations, arrests and prosecutions.
The Economic and Financial Crimes Commission (EFCC) regularly carries out operations targeting individuals suspected of internet fraud, warning that cybercrime harms victims, weakens investor confidence and damages the country’s global image.
The agency has consistently maintained that economic hardship does not justify fraudulent activities and continues to encourage young Nigerians to pursue legitimate means of earning a living.
Cybercrime remains a criminal offence under Nigerian law, with offenders facing prosecution and possible imprisonment if convicted.
Readers can find information on cybercrime prevention and the EFCC’s anti-fraud activities through the commission’s official website at https://www.efcc.gov.ng.
Wider economic concerns
Nwokolo’s comments come at a time when many Nigerians continue to express concern over rising inflation, increasing food prices, high transportation costs and expensive housing.
Economic analysts have noted that the country’s cost-of-living crisis has placed enormous pressure on households, particularly low-income earners whose salaries have not kept pace with inflation.
Housing costs in several urban centres have also become a major challenge, forcing many residents to relocate to more affordable suburbs or share accommodation.
Despite these challenges, economists generally caution that criminal activity cannot provide sustainable economic growth, arguing instead for policies that promote employment, entrepreneurship, investment and economic stability.
A debate that continues
While Ugo Nwokolo insists he was merely commenting on Nigeria’s difficult economic realities rather than promoting fraud, his remarks have reignited public debate over the relationship between economic hardship and rising cybercrime.
The discussion also highlights growing concerns about unemployment, youth opportunities and the urgent need for policies capable of improving living standards.
As reactions continue to pour in, many observers believe the controversy underscores the importance of addressing the underlying economic conditions that leave many Nigerians searching for better opportunities while reaffirming that lawful and productive economic activity remains the foundation for long-term national development.
