EFCC reveals one Bank account decision that could land you in prison 

The Economic and Financial Crimes Commission (EFCC) has warned Nigerian girls and young women against allowing internet fraudsters to use their bank accounts to receive or transfer illicit funds, cautioning that such involvement could expose them to criminal prosecution and imprisonment.

EFCC Chairman, Ola Olukoyede, gave the warning on Monday, October 12, 2026, during an event organised by the African Girl Guild in Abuja to commemorate the International Day of the Girl Child.

Represented by Aisha Muhammed, Head of the commission’s Enlightenment and Re-orientation Unit, Olukoyede urged young women to avoid cybercrime, online blackmail and sextortion, while encouraging them to pursue legitimate means of earning money.

The warning highlights the legal and financial risks facing individuals who allow their bank accounts to be used for fraudulent transactions, even when they may not be the principal perpetrators of the crime.

How can lending your bank account lead to prison?

An account mule is someone who allows another person to use their bank account to receive, hold or transfer money, often concealing the identity of the person behind the transactions.

Internet fraudsters, popularly known as Yahoo boys in Nigeria, may recruit account holders to move proceeds of fraud through accounts registered in other people’s names.

However, allowing someone to use an account does not automatically establish criminal guilt in every case. Investigators must establish the relevant facts, including the account holder’s involvement, knowledge and any applicable criminal liability.

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Nevertheless, knowingly assisting fraudsters to receive or transfer illicit funds can expose an individual to investigation, prosecution and possible punishment under applicable Nigerian laws.

“Don’t let anyone use your account to commit fraud. That account in your name can take you to prison,” Olukoyede warned.

The EFCC’s message is that young people should not assume they are safe from prosecution simply because they did not personally contact the victim or initiate the original fraud.

Why is the EFCC warning girls about sextortion?

Sextortion involves threatening to disclose intimate images, videos or other sensitive information to force a victim to pay money, provide further material or comply with other demands.

Olukoyede warned that criminals could exploit emotional vulnerability and personal relationships to blackmail young women.

He urged girls to exercise caution in their online interactions and resist pressure to participate in activities that could expose them to exploitation or criminal liability.

The warning also underscores the importance of protecting personal information, avoiding suspicious online relationships and seeking assistance when confronted with threats.

Victims of sextortion should preserve relevant messages and transaction records, avoid sending money under pressure where possible, and report the incident to law enforcement rather than allowing blackmailers to dictate their actions.

What alternatives did the EFCC recommend?

Rather than pursuing quick money through cybercrime, Olukoyede encouraged young women to acquire practical skills and develop legitimate sources of income.

He identified technology, tailoring, baking, content creation and coding as possible routes to financial independence.

He also advised girls to cultivate savings habits, recommending that they save at least 20 per cent of their earnings and distinguish between essential needs and non-essential wants.

“Financial awareness is self-defence,” he said.

According to the EFCC chairman, financial independence can help young women make informed decisions, resist exploitation and avoid becoming dependent on people who may attempt to manipulate them.

“Your integrity is your crown. Do not sell it cheap,” he added.

How can young people help fight cybercrime?

The event, themed “Invest in Her, Empower Her and Let Her Lead,” also featured a call for girls to become responsible citizens by reporting wrongdoing, volunteering and respecting the law.

Olukoyede disclosed that the EFCC had established Integrity Clubs and Zero Tolerance Clubs in schools across the country to promote ethical behaviour among young people.

He urged participants to serve as ambassadors of integrity in their schools and communities.

The commission’s warning ultimately carries two messages: young people should understand that their bank accounts can become instruments for criminal activity, and financial pressures should not push them into arrangements that could jeopardise their freedom.

For girls and young women, recognising the risks of account-mule schemes, online blackmail and suspicious money-making offers could be an important step towards protecting their finances, personal safety and future opportunities.