Nollywood actor Ugo Nwokolo has generated controversy after suggesting that internet fraud, popularly known as Yahoo, has contributed to keeping Nigeria’s economy active despite the country’s worsening economic challenges.
Speaking during a video discussion, Nwokolo argued that the sharp rise in the cost of living has left many Nigerians, particularly civil servants, unable to meet basic financial obligations with their monthly earnings.
According to the actor, workers earning between ₦50,000 and ₦90,000 a month cannot realistically afford the high rental costs now common in major cities such as Abuja and Lagos.
“Personally, I think Yahoo has helped keep the economy afloat. Do you expect a civil servant to afford house rent of ₦3 million or ₦5 million in Abuja?” he said.
Nwokolo also pointed to the soaring cost of accommodation in Lagos, claiming that rents for two-bedroom apartments can run into several millions of naira. He questioned who could afford such properties, arguing that low-income earners have effectively been priced out of the housing market.
He further suggested that only wealthy individuals, including those involved in internet fraud, appear capable of meeting the increasing costs of housing and other necessities.
Despite his remarks, the actor emphasized that he was not defending or encouraging criminal activity. Instead, he said his comments reflected the economic realities many Nigerians face as they struggle with inflation and declining purchasing power.
“I’m not justifying crime, but yes, Yahoo is helping the economy. How do you expect people to live in this kind of economy?” he said.
His comments have since sparked debate online, with social media users divided over whether economic hardship can be cited when discussing the impact of internet fraud on the country’s economy. While some interpreted his remarks as an observation about current realities, others criticized the statement, stressing that fraud remains a criminal offense regardless of the prevailing economic conditions.
