EFCC Investigates University VCs Over Alleged Fraud, Raises Alarm on Student Cybercrime

The Economic and Financial Crimes Commission (EFCC) has launched investigations into several Vice Chancellors across Nigerian universities over alleged financial misconduct, including contract inflation and diversion of students’ fees.

EFCC Chairman, Olanipekun Olukoyede, disclosed this on Tuesday during the 8th Biennial Conference of the Committee of Pro-Chancellors of State-Owned Universities held in Kano.

He revealed that top officials in both public and private tertiary institutions are being probed for various infractions, such as inflated contracts, ghost workers, and mismanagement of internally generated revenues, particularly student registration fees.

According to Olukoyede, university administrators entrusted with managing multi-billion-naira budgets must be held accountable, stressing that such practices represent not only financial losses but also a breach of public trust.

“The EFCC has uncovered multiple cases of financial impropriety within tertiary institutions. Just last week, we were preparing charges against a vice chancellor who recently left office,” he said.

The anti-graft agency also expressed concern over the rising involvement of students in cybercrime, describing the trend as alarming. Olukoyede claimed that findings from EFCC operations suggest that as many as 60 percent of university students may be engaged in internet fraud and related activities.

He noted that many suspects arrested in cybercrime crackdowns are undergraduates, with some allegedly influencing academic processes by bribing lecturers.

The EFCC boss attributed the situation to systemic weaknesses within university governance and oversight structures.

He cited a recent operation in Lagos where 792 individuals linked to an international cybercrime network were apprehended, adding that a significant number of those arrested were students. The operation, he said, was aided by the use of advanced Artificial Intelligence tools, which helped uncover the scale and sophistication of the network.

Olukoyede called for stronger accountability measures and reforms within the university system to address both financial misconduct and the growing cybercrime menace among students.