The Economic and Financial Crimes Commission (EFCC) has said poor parenting and family neglect are key factors driving Nigerian youths into financial crimes.
The statement was first made on Friday, by EFCC Chairman, Mr. Ola Olukoyede, while speaking at the Armed Forces Command and Staff College in Kaduna on “Family Neglect and Youth Involvement in Economic Offences.”
It was later reinforced on Monday, through a post on the Commission’s official X (Twitter) account.
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Olukoyede stressed the urgent need for parents and guardians to live up to their responsibilities.
“Poor Parenting Driving Youths’ Involvement in Financial Crimes,” he declared, noting that family neglect leaves young people vulnerable to internet fraud and other economic crimes.
He explained that neglect often stems from poverty, ignorance, drug abuse, or outright abdication of responsibility.
“The neglect can manifest in the failure of members of a family unit to provide adequate emotional, psychological and material support to children or dependants,” he said.
Olukoyede further warned that the consequences of family breakdown are far-reaching.
“Family neglect impacts dire consequences on the lives of young people, including increased exposure and vulnerability to financial and economic crimes,” he said.
“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,” he said.
He added that such measures would also promote ethical behaviours in young people.
He lamented that many students arrested for internet fraud confessed that financial hardship pushed them into crime.
“On numerous occasions, some students of tertiary institutions whom we arrested… would often plead they are indigent students self-financing their education,” he revealed.
He explained that their involvement in crime often followed the inadequacies of their lean financial strength.
Reinforcing his words, the EFCC wrote on X: “Family neglect is a breeding ground for youth involvement in financial crimes. Parents and guardians must rise to their responsibilities.”
The statement further read: “Together, we can build a generation of ethically responsible Nigerians. – EFCC.”
Olukoyede also praised the federal government for introducing the Nigeria Education Loan Fund (NELFUND), seeded with N50 billion from recovered proceeds of crime.
He said: “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 highlighted EFCC’s preventive programmes, including the Integrity Club, the Zero Tolerance Club, EFCC/NYSC CDS group, and the National Cybercrime Summit.
He described these as platforms to “catch them young” and foster ethical values among youths.
