Shun Quick Wealth, Embrace Integrity, Experts Urge African Youths

Experts on financial crime are calling on students and young people across Africa to resist the lure of quick wealth and instead pursue genuine success through integrity and innovation.

Speaking at a book launch in Lagos yesterday, they warned that fraud and other financial crimes carry lasting consequences that can derail personal futures and undermine the continent’s development. Founder and chief analyst at Nairametrics, Ugodre Obi Chukwu, urged young people to resist the lure of fraud and embrace integrity.

“Whether you are parents, business leaders, students, or employees, what we all clamour for is not to be fraudulent people. Economic pressure is real, especially in Nigeria. Over half of university graduates struggle to find employment within three years. It’s not just Nigeria. I’ve seen it in other African countries too.

Youth unemployment is pervasive, with content on Instagram and TikTok saturating young minds, which drives many to crime. Many young people aren’t trying to become wealthy; what they are trying to avoid is embarrassment. The fear of going broke drives them into fraud,” he said. Author Adedayo Aluko said the alarming rate of crime among young people inspired him to publish the book. He explained: “I realised that most of these crimes are not actually being committed by adults but by youths between the ages of 17 and 35, and the rate is a little bit alarming.”

Aluko, who has worked across banking, crypto, fintech and payment service sectors, added: “Nobody was really talking about it. When we say all fingers are not equal, that doesn’t mean you should go for the shorter one when you have the longer one. That is why I decided to write the book.” President of the Chartered Institute of Bankers of Nigeria, Pius Deji Olanrewaju, quoted former U.S. President Franklin D. Roosevelt as saying: “We may not be able to prepare the future for youth, but at least we can prepare youth for the future.” Several financial experts attended the launch of the book, Clean Hands, Bright Future: A Youth Guide to Avoiding Financial Crime in Africa.