Book on Youth-Driven Financial Crimes Unveiled

Nume Ekeghe

A new book confronting the surge in youth-led financial crime in Nigeria was unveiled in Lagos  with stakeholders warning that rising economic pressures and social media-driven expectations are fuelling a dangerous drift toward fraud among young people.

Author of “Clean Hands, Bright Future”, Adedayo Aluko, said the work was inspired by a pattern he observed across Nigeria’s financial ecosystem the growing involvement of young people in illicit financial activities.

Drawing from his experience across correspondent banking, crypto, and payment systems, Aluko said the book seeks to explain both the drivers and consequences of financial crime, while offering alternatives rooted in skills and legitimate enterprise.

Aluko said: “Financial crime is not primarily being committed by older adults, but largely by young people, typically between the ages of 17 and 35, the rate at which this was happening was quite alarming.” 

“This book is built on the belief that once you read it, you will understand the reasons why young people get involved in crime, as well as the impact it has  not just on individuals, but on institutions, parents, and families.”

 The book’s release comes against a backdrop of persistent youth unemployment and widening inequality in Africa’s largest economy factors speakers at the event identified as key enablers of fraud.

 Founder of Nairametrics, Ugodre Obi-Chukwu, who reviewed the book said the “get-rich-quick” culture, amplified by social media, has distorted the aspirations of many young people.

He said: “Many young people are not necessarily trying to become wealthy; rather, they are trying to avoid harassment and the fear of appearing broke, this fear is what drives many into fraud.”

Obi-Chukwu noted that economic realities remain stark, with a significant proportion of graduates unable to secure jobs years after leaving university, creating fertile ground for criminal networks.

 He also warned that financial crime often operates closer to society than widely assumed, citing cases of online extortion and cross-border fraud schemes that ensnare unsuspecting victims and perpetrators alike.

Also, speaking at the launch, the President of the Chartered Institute of Bankers of Nigeria (CIBN) Prof. Pius Olarewaju, said the book arrived at a critical moment when the focus must shift toward preparing young people for a more uncertain future.

“We may not be able to prepare the future for the youth, but at least we can prepare the youth for the future,” he said, quoting former U.S. President Franklin D. Roosevelt.

He urged young Nigerians to resist the growing culture of impatience and quick wealth, warning that integrity and long-term focus remain critical to sustainable success.

“One of the most common traits today is impatience, the desire to achieve everything quickly,” he said. “But if you remain patient and focused, all those things people are rushing after will eventually come your way and with peace of mind.”

 Beyond diagnosing the problem, Clean Hands, Bright Future attempts to broaden public understanding of financial crime, which Aluko said extends far beyond the commonly referenced “Yahoo Yahoo.”

 “In reality, there are over 200 different typologies of financial crime,” he said, noting that the book highlights several of them to improve awareness and prevention.

Matthew Omodayo Owotuga Foundation Commits  N204m  to School, Economic Empowerment

To honor the enduring legacy of the Late Most Supreme Apostle Matthew Omodayo Owotuga, the foundation established in his name has announced the successful disbursement of  N204 million towards community development, academic excellence, and economic empowerment.

The highlight of this year’s remembrance is the official handover of the Bodunwa Elizabeth Omodayo Owotuga Hall to the Olusegun Agagu University of Science and Technology (OAUSTECH), Ondo State with a modern, fully equipped 30-room student hostel, to alleviate student housing challenges and provide a conducive living environment that fosters academic focus and safety.

In line with the late Apostle’s vision of self-reliance and empowerment, the Foundation significantly scaled its financial grant programmes this year. There was the Entrepreneurial Grant of N186.7 million. A massive injection of capital provided to local business owners. These are non-repayable grants intended to scale small and medium enterprises, stimulate the local economy, and create jobs.

Also,       Educational Scholarships of N10.3 million, a financial support awarded to high-performing yet indigent students to ensure that financial barriers do not hinder their pursuit of higher education.

The Foundation hosted a regional Football Competition, investing N7 million into the event. The tournament served as a platform for discovering local talent and promoting the spirit of sportsmanship among the youth.

According to the Chairman of the foundation, Most Reverend Apostle Nelson Ogede, “the total disbursement of N 204,000,000 reflects the Foundation’s commitment to “Humanity First”—a principle lived by the Late Most Supreme Apostle Matthew Omodayo Owotuga.”

In her comments, the daughter of  the late apostle, Mrs. Agnes  Ehinmowo(Nee Owotuga), said: “Seventeen years later, our father’s transition continues to be a catalyst for progress.  “We don’t just remember him through ceremonies, but through the lives changed at OAUSTECH, the businesses revived by our grants, and the students who can now stay in the classroom.”

In 2019, Omodayo Owotuga Foundation donated an orphanage to Sacred Heart Hospital, Lantoro, Abeokuta and a 300-seater Ultra modern lecture theatre to Olusegun Agagu University of Science and Technology (OAUSTECH) Okitipupa, Ondo State in 2024.

The Matthew Omodayo Owotuga Foundation is a non-profit organisation dedicated to upholding the philanthropic ideals of the late Most Supreme Apostle Matthew Omodayo Owotuga. The foundation focuses on education, healthcare, and economic empowerment, seeking to create sustainable pathways for the less privileged in society. Its board of Trustees include Mr. Nelson Ogede, Mrs. Agnes Ehinmowo (daughter), Mr. Omosehinmi Oye and Mr. Felix Omodayo-Owotuga (Son).