Fraud Is Draining Nigeria’s Future –By Nusaiba Muhammad Hassan

Fraud has become a global problem fueled by rapid tech growth, with offenders using deceit and psychological tricks to steal money and personal data. One growing tactic is WhatsApp account hacking, where scammers take over trusted accounts and message contacts directly to request money. This causes financial loss and damages reputations, making public awareness vital.

In Nigeria, fraud is rising sharply, especially among youths. Many young people invest creativity and effort into scamming instead of channeling those skills into productive work that could grow the economy. Unemployment is a major driver, with school dropouts and jobless graduates often turning to fraud to survive. Reducing unemployment would cut fraud significantly.

Internet fraud, popularly called “Yahoo Yahoo,” remains common despite Nigeria’s rich natural resources. If those resources were properly harnessed, industries like chocolate processing, oil refining, and gold processing could create jobs for thousands and reduce fraud’s appeal. Insecurity worsens the problem by scaring off investors, disrupting farming, and driving rural-urban migration that weakens agricultural output.

Fraud also erodes business and trust. Scammers often build credibility before exploiting victims. Some collect goods on credit and disappear, while others change phone numbers or relocate to avoid payment. Online vendor fraud is widespread, with fake sellers taking payment, blocking buyers, and never delivering, or sending items completely different from what was ordered. Conversely, some customers receive goods and refuse to pay after delivery.

The problem extends to personal relationships. Some people borrow large sums from friends with no intention of repaying. Fake mentorships and training programs have also emerged, where organizers share real content at first to build trust, then request “urgent” money for assistance and later offer excuses about transaction limits or network issues. On the streets, scammers approach targets under the guise of asking for directions, then use distractions or spiritual charms to disrupt their consciousness before stealing phones, cash, or valuables. Phone-call scams are also evolving. Fraudsters use international numbers to steal people’s funds. Never pick or return a call from unknown international numbers. In Nigeria, fraudsters also call while impersonating bank officials and ask for BVN or other important details to access victims’ accounts.

Solving this requires collective action. Law enforcement must identify, track, and prosecute offenders so fraud carries real consequences. Government, security agencies, community leaders, businesses, and citizens must work together to promote honesty, create jobs, develop the economy, and engage youths productively. Only through collaboration can Nigeria reduce fraud and achieve sustainable growth.