Adebayo Adenrele
…healthy economy should not depend on proceeds allegedly linked to criminal activities – Analyst
Business owners in Ado Ekiti, the Ekiti State capital, have lamented a sharp decline in patronage, attributing the situation to the reported departure of suspected internet fraudsters, popularly known as “Yahoo boys,” following the alleged increased presence and operations of the Economic and Financial Crimes Commission (EFCC) in the state.
Recall that President Bola Tinubu, represented by Vice President, Senator Kashim Shettima commissioned the EFCC Zonal office in Ekiti on June 9, 2026.
Some traders, restaurant operators, nightclub owners, boutique owners, gadget dealers and hospitality businesses told journalists that their daily sales have dropped significantly in recent weeks, leaving many struggling to meet operational costs.
A restaurant operator in the state capital, who identified herself simply as Yetunde, said business has been unusually slow, saying
“Before now, weekends were always busy. Many young men came in groups, ordered expensive meals and drinks and spent freely. These days, the customers are no longer coming and our sales have reduced drastically”.
Similarly, Chibuzo Emmanuel, a boutique owner along one of the major commercial areas in Ado Ekiti disclosed that expensive designer wears and luxury accessories that usually sold quickly have remained on the shelves.
According to him, “Whether we like it or not, many of them were our regular customers. They bought clothes, shoes and wristwatches without bargaining. Now, the market is dull and very soon now, the government will be coming for tax”.
Hotel operators also expressed concern over declining occupancy rates, noting that many lodges and short-let apartments that were previously occupied throughout the week now record low patronage.
A nightclub owner, who pleaded anonymity, said the nightlife economy in Ado Ekiti has suffered considerably.
“The nightlife has changed. We no longer witness the kind of crowd we used to have. Sales of drinks have dropped and many entertainment businesses are feeling the impact”.
While some business owners expressed concern over the economic implications, others argued that the decline in activities associated with suspected internet fraud could help restore the state’s reputation and encourage legitimate investments.
A public affairs analyst, Temitope Ajayi noted that although some businesses may experience temporary losses, a healthy economy should not depend on proceeds allegedly linked to criminal activities.
He urged government authorities to focus on creating an enabling environment for legitimate businesses, youth employment and entrepreneurship to stimulate sustainable economic growth in the state.
