Economic and Financial Crimes Commission (EFCC) has declear an absolute war on online fraudsters otherwise known as “Yahoo Boys.” The EFCC disclosed this in a statement by its acting Spokesman Tony Orilade.

The commission revealed the name of the operation as “Cyber Storm”, and it will involve its operatives monitoring suspicious transactions especially by youths who cannot explain their source of wealth.

It says it will also deploy its agents in nightclubs and concerts where youths usually go to “pop” expensive champagnes.

The anti-graft agency will also be monitoring social media accounts of suspected fraudsters who usually show off their expensive cars and houses.

As part of the operation, the EFCC has already arrested over 50 suspected online fraudsters in the last 10 days in Lagos, Abuja, Port Harcourt and Ibadan.

“We have declared a total war on Yahoo boys who have done nothing but given Nigeria a bad name home and abroad. We know their methods of operation. Be assured that in the coming days we will make more arrests,” it said.

“Those who live honest lives will not be touched.”

Meanwhile, the EFCC has arrested three suspected internet fraudsters at No 24, 1st Avenue, Fort Royal Estate, Airport Road, Abuja.

The suspects are: Marvin Nwankwo, Prince Ojenike and Jude Olatekobowale. They allegedly created a Facebook account with the following names: Rodney David; David Rodgers and Carlos David, respectively.