"Yahoo business keeps Nigeria’s economy afloat" Nollywood actor UGO NWOKOLO

Wednesday, July 29, 2026 - Nollywood actor Ugo Nwokolo has stirred reactions after claiming that internet fraud, popularly known as Yahoo, has played a role in keeping Nigeria’s economy afloat amid the country’s worsening economic conditions.

Nwokolo made the remark during a video discussion, where he argued that the rising cost of living and soaring house rents have made it almost impossible for many civil servants to survive on their salaries.

According to him, workers earning between N50,000 and N90,000 monthly cannot afford the millions of naira now being charged for rent in 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 N3 million or N5 million in Abuja?” he said.

The actor also questioned how low-income earners could afford other rising costs, including clothing, saying only wealthy individuals, including fraudsters, appear capable of meeting such expenses.

“If you go to Lagos now, the least you’ll see for a two-bedroom apartment is about N7 million or N8 million. Who is supposed to afford it? The civil servants? Of course, it’s the fraudsters,” he added.

Nwokolo, however, insisted he was not endorsing criminal activities but argued that internet fraud has contributed to economic activity because many Nigerians are struggling to survive.

“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.