SCARS Institute’s Encyclopedia of Scams™ Published Continuously for 25 Years
Nigeria’s EFCC Will Pay Million Bounty On Yahoo Boys!
Fake News / Urban Legend!
Sorry, it is NOT True – a SCARS Insight
FAKE NEWS: For The First Time, Nigerian Declares All Our War Against Yahoo Boy Scammers!
The Nigerians Are Not Willing To Make Informants Millionaires If They Identify Online Scammers Or Fraudsters!
Of course, this is just another Nigerian Urban Legend! According to SCARS sources in the EFCC: They are NOT using the money they have seized from scammers to do this.
We applaud the idea but would like to see that money returned to the victims of the criminals they have arrested. Until the removal of the previous director, SCARS was in dialog with the Economic & Financial Crimes Commission of Nigeria to do just that and to develop a program for victims’ notifications. Unfortunately, with the change in management, those discussions were suspended awaiting new opportunities.
In A Statement Released Today, The EFCC stated:
Scam Alert: EFCC Not Offering N1m Reward to Yahoo Yahoo Informants
EFCC Press Release
The Economic and Financial Crimes Commission wishes to inform the general public that it has not issued any notice in the social media promising financial reward for anyone with information that could lead to the arrest of a Yahoo Boy.
This clarification became necessary following phone calls by citizens wanting to cash in on notices in the social media by fraudsters promising a reward of One Million Naira (N1, 000,000) for friends, family and relatives of yahoo boys who hand them over to the EFCC.
The promo with #Efcc and #beagoodcitizen states, “If you have a Yahoo Yahoo boy as Family, Friend or Relative, Kindly hand them over to us, and get a Massive reward of 1million naira.”
The Commission wishes to state that this message is alien to the EFCC, and members of the public are enjoined to disregard them.
Promoters of the hashtags are currently under surveillance and every efforts will be made to bring them to justice.While the Commission welcomes information that could lead to the arrest of cybercrime suspects, it has no policy of financial reward for such informants. The fight against corruption and other forms of economic crime is a patriotic duty and Nigerians are encouraged to embrace it with altruism.
The whistle blower policy of the Federal Government which the Commission is among the agencies saddled with its implementation, is applicable only to public sector corruption.
The public is warned that, the Commission will not be responsible for anyone who falls for this obvious scam.
It Is A Great Idea, But Currently, The EFCC Just Sits On The Money It Seizes.
Hopefully, in the near future, the EFCC will listen to the cries of victims and adjust its policies. In the meantime, at least they are diligently working to break their record for the number of arrests.
TAGS: SCARS, Scams, Scammers, Fraudsters, Cybercrime, Crybercriminals, Scam Victims, Online Fraud, Online Crime Is Real Crime, Nigerian Scammers, Nigerian Fraudsters, Yahoo Boys, Yahoo Yahoo, G Boys, Economic & Financial Crimes Commission, EFCC, Nigerian Police, Arresting Scammers, Fraudsters Arrested, Fake News, Urban Legend
PLEASE SHARE OUR ARTICLES WITH YOUR FRIENDS & FAMILY
HELP OTHERS STAY SAFE ONLINE – YOUR KNOWLEDGE CAN MAKE THE DIFFERENCE!
THE NEXT VICTIM MIGHT BE YOUR OWN FAMILY MEMBER OR BEST FRIEND!
By the SCARS™ Editorial Team
Society of Citizens Against Relationship Scams Inc.
A Worldwide Crime Victims Assistance & Crime Prevention Nonprofit Organization Headquartered In Miami Florida USA & Monterrey NL Mexico, with Partners In More Than 60 Countries
To Learn More, Volunteer, or Donate Visit: www.AgainstScams.org
Contact Us: Contact@AgainstScams.org
-/ 30 /-
What do you think about this?
Please share your thoughts in a comment below!
Table of Contents
Rapid Report Scammers
In the U.S. & Canada
U.S. & Canada Suicide Lifeline 988
LEAVE A COMMENT?
Recent Comments
On Other Articles
- Laura Schultz on Scam Grooming: Finding Common Interests: “I’ve been groomed for two months then the love bombing started. This guy was supposedly a Ukrainian soldier stationed in…” May 8, 13:56
- on Revictimization – A High Risk for Existing Scam Victims – 2026: “I was just very numb after my scam, I barely slept and was exhausted. I wish I had know about…” May 7, 22:31
- on Revictimization – A High Risk for Existing Scam Victims – 2026: “I can barely handle myself these days so even thinking about another relationship is too much for me. The time…” May 7, 20:59
- on Revictimization – A High Risk for Existing Scam Victims – 2026: “Thank you! I understand that these impulse reactions can affect us for some time. And another relationship especially soon after…” May 7, 18:14
- on Reporting Scams To The United States Secret Service – Cryptocurrency Recovery – Forget The FBI! [VIDEO]: “Unfortunately, the Federal services tend to aggregate crimes together rather than investigate individual offenses when it comes to scams.” May 6, 01:57
- on Romance Scams Detection Training Tool – 2026: “Criminals are not toys, and they can harm you in ways you can’t even imagine.” May 6, 01:55
- on Romance Scams Detection Training Tool – 2026: “Great, word, by word as it is happening to me right now however I already stated clearly that I have…” May 2, 20:06
- on Bank Impersonation Scams – 2026: “Great article, great detail, great reminders, Thank You SCARS. Scammers’ tactics unfortunately are advancing at the speed of light. I…” May 1, 13:27
- on Why Do Police Try To Avoid Taking Reports For Scams?: “My local police department has been responsive (Palm Beach Sheriffs Office). I wish I could say the same thing about…” Apr 30, 15:35
- on Reporting Scams To The United States Secret Service – Cryptocurrency Recovery – Forget The FBI! [VIDEO]: “I reported my fraud to the FBI and Secret Service as soon as I finished up my IC3 report. I…” Apr 30, 15:29
ARTICLE META
Important Information for New Scam Victims
- Please visit www.ScamVictimsSupport.org – a SCARS Website for New Scam Victims & Sextortion Victims
- Enroll in FREE SCARS Scam Survivor’s School now at www.SCARSeducation.org
- Please visit www.ScamPsychology.org – to more fully understand the psychological concepts involved in scams and scam victim recovery
If you are looking for local trauma counselors please visit counseling.AgainstScams.org or join SCARS for our counseling/therapy benefit: membership.AgainstScams.org
If you need to speak with someone now, you can dial 988 or find phone numbers for crisis hotlines all around the world here: www.opencounseling.com/suicide-hotlines
A Note About Labeling!
We often use the term ‘scam victim’ in our articles, but this is a convenience to help those searching for information in search engines like Google. It is just a convenience and has no deeper meaning. If you have come through such an experience, YOU are a Survivor! It was not your fault. You are not alone! Axios!
A Question of Trust
At the SCARS Institute, we invite you to do your own research on the topics we speak about and publish, Our team investigates the subject being discussed, especially when it comes to understanding the scam victims-survivors experience. You can do Google searches but in many cases, you will have to wade through scientific papers and studies. However, remember that biases and perspectives matter and influence the outcome. Regardless, we encourage you to explore these topics as thoroughly as you can for your own awareness.
Statement About Victim Blaming
SCARS Institute articles examine different aspects of the scam victim experience, as well as those who may have been secondary victims. This work focuses on understanding victimization through the science of victimology, including common psychological and behavioral responses. The purpose is to help victims and survivors understand why these crimes occurred, reduce shame and self-blame, strengthen recovery programs and victim opportunities, and lower the risk of future victimization.
At times, these discussions may sound uncomfortable, overwhelming, or may be mistaken for blame. They are not. Scam victims are never blamed. Our goal is to explain the mechanisms of deception and the human responses that scammers exploit, and the processes that occur after the scam ends, so victims can better understand what happened to them and why it felt convincing at the time, and what the path looks like going forward.
Articles that address the psychology, neurology, physiology, and other characteristics of scams and the victim experience recognize that all people share cognitive and emotional traits that can be manipulated under the right conditions. These characteristics are not flaws. They are normal human functions that criminals deliberately exploit. Victims typically have little awareness of these mechanisms while a scam is unfolding and a very limited ability to control them. Awareness often comes only after the harm has occurred.
By explaining these processes, these articles help victims make sense of their experiences, understand common post-scam reactions, and identify ways to protect themselves moving forward. This knowledge supports recovery by replacing confusion and self-blame with clarity, context, and self-compassion.
Additional educational material on these topics is available at ScamPsychology.org – ScamsNOW.com and other SCARS Institute websites.
Psychology Disclaimer:
All articles about psychology and the human brain on this website are for information & education only
The information provided in this article is intended for educational and self-help purposes only and should not be construed as a substitute for professional therapy or counseling.
While any self-help techniques outlined herein may be beneficial for scam victims seeking to recover from their experience and move towards recovery, it is important to consult with a qualified mental health professional before initiating any course of action. Each individual’s experience and needs are unique, and what works for one person may not be suitable for another.
Additionally, any approach may not be appropriate for individuals with certain pre-existing mental health conditions or trauma histories. It is advisable to seek guidance from a licensed therapist or counselor who can provide personalized support, guidance, and treatment tailored to your specific needs.
If you are experiencing significant distress or emotional difficulties related to a scam or other traumatic event, please consult your doctor or mental health provider for appropriate care and support.
Also read our SCARS Institute Statement about Professional Care for Scam Victims – click here to go to our ScamsNOW.com website.
Thank you for your comment. You may receive an email to follow up. We never share your data with marketers.