One of Nigeria's Main anti-graft agancies, Economic and Financial Crimes Commission (EFCC) has narrated how it arrested two internet fraudsters, popularly called 'Yahoo Boys', Tobiloba Ibrahim Bakare and Alimi Seun Sikiru, who were recently convicted and sentenced to three years in prison.

 

Apart from the three-year jail term, the judge also ordered the convicts to forfeit to the Nigerian government the total sum of N204, 041, 216. 82; Mercedes Benz E500; Toyota Hilux 2020 model; 5-bedroom duplex, situated at Ibrahim Beto Street, Osapa London, Lekki, Lagos; a 4-bedroom semi detached duplex situated at Ologolo Jakande, Lekki, Lagos and a 4-bedroom semi detached duplex in Southern View Estate, Mayor Court, Chevron Alternative Road, Lekki, Lagos.

 

EFCC spokesperson, Wilson Uwujaren in a statement on Monday, said the duo were arrested by operatives of the agency for hacking emails of corporate organisations.

 

 

The statement read, “For many years, Tobilola Ibrahim Bakare and Alimi Seun Sikiru enjoyed the frills of the nouveau riche and the effervescent image of modern age role model of success among the young and upwardly mobile. What with their collection of wonders- on- wheels and exquisitely furnished mansions in exclusive neighborhoods of Lagos. Life was good and business was sweet as the greenback kept tumbling in, from one deal after another.

 

“Their proverbial master keys to ceaseless flow of wealth was access to the email of corporate organisations, a practice that is known as Business Email Compromise Scam in cybercrime. Bakare, the lord of the manor as far as the deadly partnership is concerned, had mastered the art of breaking into the emails of corporate organisations through hacking, and compromising their financials. By the time his melody changed to swansong, his cumulative heist was in the neighbourhood of $1 million.

 

“What went wrong? The guy men, as internet fraudsters are called in cybercrime circles, were not careless. They never expected a comeuppance, at least not in the short term. But a certain transfer from one of their corporate accounts became their Achilles heels. As it turned out, EFCC was literally in pursuit of a small fish when it landed a Shark.