Photo: Lucas Andrade
The growing social media fraud (SMF) among students in Nigeria presents a significant concern that questions the integrity of the system and the ethical standard of the younger generation. Notwithstanding the collective efforts by the government and educational institutions to check the dangers, the challenge continues to linger, pointing to a possible ineffective approach which does not address the main causes. In secondary and post secondary schools, students who are economically strained and people from economically disadvantaged backgrounds are particularly pulled in to the online “hustle” culture (nicknamed “Yahoo Yahoo” in Nigeria). The hustle is driven by financial stress and the ambition to “make fast money”. It doesn’t just bring the ‘bank alerts’, but it fundamentally rewires the psychology of the “star boy” who often views the proceeds from western victims as part of ‘damages’ for “colonial” injustice.
In the real sense, digital fraudulent activity is commonly inspired by a lack of viable economic opportunities, peer pressure, weak or non-existent social safety nets and limited legitimate opportunities to “meet up” the success expectations of the society. To succeed, the hustler requires a combination of technical aptitude, software proficiency to operate the “tools”, psychological and social engineering skills to manipulate the tactics, and strategic planning skills to execute the process. The tools can range from phishing links to fake social media accounts (for romance scams) and the aptitude to pull off a large scale financial fraud through business email compromise (BEC). The trend has a long-term implications on future careers of the ‘talents’. It also questions both individual and societal integrity.
INSTITUTIONAL DRIFT
One of the long-term implications is the global menace of cyber-based crime which the INTERPOL spends billions of dollars each year to curb. According to a report released by the INTERPOL in 2025, the “Black Axe” and “Opera-1er” are the leading global scam syndicates in BEC and ransomware attacks. What is known today as The Black Axe organization evolved in Nigeria as a student confraternity known as The Neo Black Movement of Africa. Over the years, as the corrupt political landscape continued to produce economic woes, it catalyzed the organization’s ‘radicalization’ and its transformation into a transnational crime syndicate and a global mafia with highly organized network for massive cybercrime.
Today, the Black Axe organization conducts money laundering activities that measure in billions of dollars. Unlike the Italian-American mafia- the Gambino crime family- which was founded for illicit activities in New York, the Black Axe Organization was founded on the principle of Pan-Africanism, for the pursuit of social justice. A critical look at how a social justice campaigner transformed into a transnational crime syndicate, exposes the societal numbness and the apathy with which some perceived domestic social problems are treated. In 2025, the USA alone recorded a loss of $21 billion to cybercrime activities which includes BEC, investment and romance swindles. Due to the high-speed financial rewards from online fraud, the perpetrators often conclude that the legitimate pathway of a 4 year university study that lands a low-paying entry job is irrational, unattractive and a waste of time and talent, hence they say “education is a scam”.
There are extensive studies on the socio-economic factors that contribute to social media fraud. It shows there is a gap in understanding the “psychology of ethical digital literacy” which affects the policy designs and the control of social media fraud. Certainly there is an ethical crisis that needs to be understood first before it can be addressed.
How does online fraud affect the perpetrator’s life, mindset, ethical values, societal relativity and career prospects? Would it be more profitable to invest in a system that understands the psychology of ethical digital learning? Would there be any global value in re-coding cyber predators than there will be in rehabilitating ideological terrorists like “Boko Haram Associates and their combatants”? Between rehabilitating radical ideologists and transitioning cyber-predators to cyber defenders and tech entrepreneurs, which will produce a regenerative economy?
Given these problems, there is an emergency need for a more realistic model that addresses cyber-based fraud among youths. Where the higher institutions are inefficient, the responsibility lies with social organizations that focus on digital learning at community levels. The solution model should emphasize on psychology of ethical digital learing in order to understand and tackle the root causes that drive such behaviour. If unattended to, there will be a far-reaching consequencies for individuals, institutions and the global community. The answer does not lie in stringent digital policing to spread fear of consequence, the answer lies in “ethical-hustle” alternatives that reflects the swift nature of the online world.
Written By: Byke Freeborn| X/Twitter: @bykefreeborn
Adapted from/inspired by the research on Cyber Fraud and Ethical Literacy
By: IGWE, Dickson O.
Department of Criminology and Security Studies, NOUN.