Nollywood actor Ugo Nwokolo has sparked widespread debate across social media after publicly claiming that internet fraud, popularly known as "Yahoo," plays a significant role in keeping Nigeria's economy afloat amid severe economic challenges.
Speaking during a recent video discussion, Nwokolo argued that hyperinflation and skyrocketing house rents in major metropolitan areas such as Lagos and Abuja have rendered standard civil service salaries practically obsolete.
According to the actor, workers earning between N50,000 and N90,000 monthly cannot realistically afford rental fees running into millions of naira without alternative financial sources.
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While clarifying that he does not officially endorse criminal behavior, Nwokolo maintained that real estate markets, luxury consumer goods, and commercial activities in urban centers are currently sustained by money generated through cybercrime rather than average working-class wages.
"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? 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. I’m not justifying crime, but yes, Yahoo is helping the economy." — Ugo Nwokolo
#UgoNwokolo #NollywoodGist #NigeriaEconomy #YahooYahoo #NaijaTrending #LagosRent #AbujaHousing
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