“Wisdom is profitable to direct.” — This timeless proverb from the Bible couldn’t be more relevant than in today’s hustle-driven society. In a world where survival seems to demand fast money and sharp moves, many are falling into traps disguised as opportunities. Sadly, a growing number of young Nigerians are learning this lesson the hard way.
The Economic and Financial Crimes Commission (EFCC) has arrested Olawole Sunday, a suspected cyber fraudster who built a deceptive scheme around purchasing bank account details from young individuals, only to use those accounts for fraudulent financial transactions. The arrest was confirmed on Monday in a statement by Dele Oyewale, the commission’s Head of Media and Publicity.
Sunday’s tactics were painfully simple: he approached young people—often those battling unemployment or seeking quick cash—and offered them between ₦25,000 and ₦50,000 to open new bank accounts. In return, he collected everything: full bank details, ATM cards, PINs, and control over the account.
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To someone desperate, the offer may seem harmless. After all, “it’s just an account.” But this illusion of harmlessness is exactly what landed one Uyi Eghosa in serious trouble.
Olawole Sunday allegedly used Eghosa’s bank account to scam a victim of ₦2 million, under the false pretence of investing in foreign exchange. When the victim reported the incident, the trail led back to Eghosa’s account, and he was arrested immediately.
Eghosa, during interrogation, insisted he had no idea his account was used for fraud. He claimed he had sold the account to Sunday for ₦25,000, assuming nothing sinister would come of it. But in the eyes of the law, handing over your financial identity—no matter how small the payment—comes with serious consequences.
Thankfully, Eghosa’s cooperation led the EFCC to Olawole Sunday, who was arrested, interrogated, and reportedly confessed to the entire scheme. The EFCC says he will be charged to court once investigations are complete.
The Lesson Everyone Must Learn
This case highlights an alarming trend: the casual selling of bank accounts for quick cash. Many youths—out of desperation, ignorance, or recklessness—fail to realise that they are legally and morally responsible for any fraudulent activity conducted through their accounts.
In a digital age where your bank account is essentially your financial fingerprint, sharing it—or worse, selling it—is equivalent to handing over your identity for a crime you didn’t commit… yet.
Ignorance is not a defence.
Eghosa’s story could be anyone’s. All it took was one poor decision—₦25,000 today, and the possibility of jail time tomorrow.
We must sound the alarm loud and clear: Easy money can carry heavy consequences. What starts as a few extra naira can spiral into a legal disaster. When you hand over your financial details, you give away more than you know—you risk your freedom, your reputation, and your future.
This isn’t just a warning. It’s a wake-up call.
