Mrs. Janet Akinyele, a 46‑year‑old trader from the Alakia area of Ibadan, was dismayed when a house agent told her that a one‑room apartment she had previously rented for N12,000 now cost N41,000, agent fees included. When she asked why the rent had risen so sharply, the agent replied, “Madam, if you can’t rent it, those who will rent it will do so without delay.” The agent’s blunt stance left her frustrated, and she blamed the soaring rents on cyber‑criminals, popularly known as “Yahoo boys.” Akinyele told our correspondent, “The situation is getting worse. Nobody thinks about how we will eat; all they care about is money. They raise the rent without considering the poor. My family and I are just managing; we have no money to rent another place. I came to see the agent in good faith, but I don’t know how to pay that amount.” She added, “When you tell Yahoo boys any amount, they are ready to pay. I am tired and have nowhere to run except to God. When the rent is increased and we cannot pay, they will harass us and ask us to vacate. The amounts now are shocking—what used to be N300,000 is now taken by those boys. The country’s economic decline has worsened living conditions and fueled cybercrime.”
Our investigation found that some selfish landlords deliberately raise rents, knowing that Yahoo boys will pay any price. Civil servant Olanrewaju Akinseye, who has been searching for housing, recounted his frustration: he was offered a one‑bedroom flat in Idi‑Ape for N250,000—up from the usual N80,000—but could not afford it. He later found the same house occupied by men he suspected were Yahoo boys, identifiable by their distinctive hairstyles. Akinseye blamed agents for worsening the crisis, saying they prioritize tenants who can pay, namely the cyber‑criminals, while ordinary workers struggle to earn a living. “Agents tell you that if you can’t pay, someone who can will. Those are the Yahoo boys with free money. We civil servants work hard before we are paid, yet we are pushed aside,” he said.
Sunday Odekola of Ogbomoso echoed these concerns, noting that the lavish spending of Yahoo boys inflates rents and harms modest earners. “They pay any amount without negotiation, while ordinary people must haggle. Landlords see these suspected cyber‑criminals as easy money, but it’s unfortunate for the rest of us.” Similarly, Adekola Ayomide from Offa, Kwara State, described how Yahoo boys intimidate low‑income earners. “During negotiations, a Yahoo boy may appear and pay double, causing the agent to refund the original tenant’s money. They find any excuse to favor them.”
Cybercrime has become a growing menace, attracting global attention as youths increasingly engage in financial, intellectual‑property and identity theft. In Nigeria, convictions rose to 3,785 in 2022, according to the Economic and Financial Crimes Commission (EFCC). The World Bank reports that 22 million Nigerians lack adequate housing, while the National Bureau of Statistics indicates that 63 % of the population (about 133 million people) are multidimensionally poor. The extravagant lifestyles of Yahoo boys exacerbate these hardships.
Housing agents and landlords have mixed reactions. Agent Ayoade Oyediran explained that Yahoo boys often entice owners with higher payments, sometimes offering to double the rent, which many landlords cannot refuse. He noted that some landlords now disguise themselves to appear respectable, wearing caps and Islamic gowns to conceal their true intentions. Widow and former civil servant Deborah Akinleye, a landlord in Ibadan, admitted that while some landlords are selfish, they often rely on rent as their sole income, prompting them to favor higher‑paying tenants. She said she screens prospective renters with a questionnaire. Landlord Alfa Animashaun warned that renting to Yahoo boys carries spiritual risks, especially as many have moved to “Yahoo plus” activities. “The money they spend is not clean; it is blood money, and there are spiritual consequences,” he cautioned. Another landlord, Lateef Shittu of Ogbomosho, said his association, the Oke Owode Landlord Association, now requires all tenants to register and adhere to strict guidelines before renting.
When asked about legal repercussions, EFCC spokesperson Wilson Uwujaren told our correspondent that anyone who allows their premises to be used for criminal offenses faces up to 15 years in prison.
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