Help the Victims Now”: Prof. Ojo Emmanuel Urges Relief Fund for Ponzi Scam Survivors
Jerry Adesewo
In a passionate appeal that cuts through the policy noise, Nigeria’s first professor of cybersecurity and information technology management, Professor Ojo Emmanuel Ademola, has urged the Federal Government to create a relief fund for victims of Ponzi schemes, using proceeds of recovered corruption assets to bring immediate respite to thousands left devastated by financial fraud.
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Speaking on New Dawn, a flagship programme of Ogun State Television, Prof. Ademola said the time for debate was over and action was long overdue.
“Some of these people are on the verge of breakdowns. They’ve lost homes, life savings, trust. They need help—now, not in five years after court cases,” he said, his voice steady but resolute.
A Crisis That Needs Compassion
While commending the Economic and Financial Crimes Commission (EFCC) for ongoing recovery efforts, Prof. Ademola insists it is morally and strategically urgent to provide psychological and financial support to victims.
He proposed a structured relief initiative funded by part of the recovered loot, not just to address financial loss but to help restore dignity, trust, and hope.
“This is not just a matter of crime. It is a matter of trauma. Many victims have been emotionally wrecked. They need professional counselling and financial rehabilitation,” he said.
He also suggested that the government enlist trained financial counsellors and psychologists to assist victims through recovery and reintegration, warning that public silence on their plight was dangerous.
Cybercrime and the Ponzi Epidemic
Prof. Ademola’s call comes against the backdrop of Nigeria’s ongoing cybersecurity challenges and the alarming rise of Ponzi schemes, which have seen an uptick amidst harsh economic realities.
“We must stop seeing digital transformation as just an economic opportunity. It comes with enormous risks that are already costing us,” he explained.
According to him, Nigeria’s push for digital governance and cashless transactions has opened doors to technological vulnerabilities, many of which are being exploited by scammers at the expense of citizens desperate for financial survival.
“As people face unemployment and inflation, Ponzi promoters appear with glossy websites and sweet promises. They prey on pain,” he said.
Citizens Must Be Alert
Beyond government action, Prof. Ademola stressed that ordinary Nigerians must stop chasing “get-rich-quick illusions” and start building financial discipline.
“There’s no shortcut to success. If it sounds too good to be true, it is. People must work hard, verify offers, and ask questions,” he warned.
He recommended national awareness campaigns in schools, religious institutions, and rural communities, and even proposed involving traditional rulers as cybersecurity ambassadors in their communities.
“If the people trust their monarchs, then let’s use that trust to educate them,” he said.
Stronger Regulations, Smarter Collaboration
Prof. Ademola also called for multi-agency cooperation involving the EFCC, the Central Bank, telecom companies, and global law enforcement such as Interpol and the FBI.
“Cybercrime doesn’t respect borders. Our response must also be borderless. We need intelligence sharing and rapid response systems that work,” he said.
He insisted that institutions complicit in enabling fraud must face stiff penalties—“not just fines, but naming, shaming, and structural reform.”
He further recommended a national public inquiry to investigate and shut down recurring financial scams, and to map out policy frameworks that can pre-empt new digital fraud patterns.
Hope, With Action
Professor Ojo Emmanuel’s message was clear and urgent. His remarks go beyond the academic realm—they are a moral charge to a nation increasingly held hostage by digital deception.
“We need policy, yes. But right now, we need compassion. We need to rescue the victims. We can’t afford to be numb to their pain,” he concluded.
In a country where fraud leaves invisible scars and where recovery often comes too late, Prof. Ademola’s proposal for a dedicated victims’ relief fund may just be the most humane—and impactful—policy idea yet.
Help the Victims Now”: Prof. Ojo Emmanuel Urges Relief Fund for Ponzi Scam Survivors